$85 is a total low ball.  The stock was higher or within a few % much of the month November after earnings,  and $85 represents a 28% discount to company's own stated NAV, which itself will attractively compound without the purported benefits of this deal. Seems like an opportune moment to take advantage of a rate pressured sell off right as the underlying business is hitting a major inflection point.  Special committee should't consider anything below $95.