Re: TMDI
TMDI board has an idea what is fair in their minds.Also appraisals are done so both parties have a better idea what is fair value.My BO with ARIA was trading at 11 per share offer was made to ARIA Board for 20,weeks later 22,week later 24 per share.That was good enough of an offer to take it and PR the offer to shareholders.Another words,what is to be learned is we will not know of any offers that are made if too low.Only when TMDI Board feels that is acceptable would they PR something.Once offer is made,PR'd then anyone else has 20 business days to make a higher offer.HOWEVER,in ARIA's case,the suitor demanded and ARIA Board agreed -no shopping higher offers-so the suitor Takeda wound up with it.Thanks Roll