G,

As I recall, AE has ~5M shares (5/55Ms OS = 9% OS which is sizable for a CEO of a company...i.e. he has enough skin in his company). Also, mangement including AE has approximately 30% control of the company (I could not find a reference, since the latest Presentation does not contain this info...it was in older Presentation I believe). 30% practically has superiority in the control in a TO (preventing the 2/3 majority), since voting would never have a 100% turnout.

In summary, a TO will need the blessing from AE and Management. AE will need to decide what price level he would walk away with, e.g. $10/s would give him $50M, or would he want $100M?

goldhunter