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Message: How important is ROFR for HL

KOO - We have beat this enough so I will give it one last try and be done. If you want to reply again, that is fine. The Market sets the price. With your house sale, you look at what similar houses in your area are going for at that time and list accordingly. If the market is hot, you might get it, if not you might have to lower it until a buyer is happy with your price or they just put in a lower bid and you accept but in the end, they decide the price. You can only accept their offer or not. 

After BoM results, RVX will have an idea what they want but it won't sell until a buyer makes them an offer and they accept or decline. You hear all the time of a buyer making an offer to buy a company and the Board of the target company will consider the offer and make a recommendation to accept the offer or not to the shareholders. The shareholders then vote to accept or decline. The buyer set the price though and the target just accepts it or declines it. The buyer will only offer to pay what their numbers say is right for them. If the seller declines, the buyer can sweeten the offer but it is still a new price picked by them. 

If RVX set the price, they would offer it to the market at that price and it would sit there until someone paid it or they lowered it. That might be soon or never. That is how retail works but from what I know, M&A does not. RVX's option is just to decline offers they don't like.

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