Was to win the Apple trial... oops! So now we know it was to sell the company. You don't hire an Ibank and a law firm to do strategy. You hire McKinsey to do that. This is being sold! When Skippen disclosed the backlog and the stock fell to cash + backlog value the next move was for someone to go "hostile"... And the person usually goes hostile after 10 days because you have to disclose the 10 day volume weighted average price. And then you only have 60 days to find an alternative buyer because of shareholder laws (Wi-Lan knows all too well about these laws when they tried to use them to corner Mosaid). But this is an odd timing of this release, so soon after the Apple loss. Why not just wait one week for the quarterly earnings? Wi-lan must have rejected an offer and knows the firm is going hostile and they are nervous. They want to be be able to say "this is an opportunist and we need time to complete a strategic review." And they don't want the $5 offer price to be a 60% premium to the VWAP.