Koo/CJ - You are both probably correct, your disagreement is on semantics. Yes, in an HL buyout, they would not be getting the company for 61% because they already bought the other 39%. On the other hand, I believe CJ is saying that since they already bought 39% they could now buy the whole company for 61% of the amount of cash or other value that another buyer would have to come up with. I believe his point is just that it is less for them to come up with now than another buyer which is true.