I think that the FWR deal is a fair one, in that shareholders are aquiring a stake in NOT projects as well..... it is a case of relative value brought to the table...
With NOT having a downturn in price in the past couple weeks, it has allowed for much better consolidation terms for FWR shareholders and upside potential.... If NOT had moved to the $4.00 range and they had offered a 1 for 4 everyone would be very happy with FWR coming off the .25 range.
I would welcome a deal at this time for PRB under a similar offer although with PRB having a smaller float and more cash a 1 for 3 would be acceptable to me.
JMHO