Yes, but that was a forced sale subject to a topping bid. BTW, whatever the value, the 25% from Challenger is worth 120 million more than a 25% share that SNG held. So, even at depressed values it is worth at least 260 million.

If they were not looking to merge or sell, at least as an option, we would be hearing about a search committee or retention of a search firm to find an appropriate CEO candidate.

The real question is whether Palo Alto needs to get back above $3 or whether they are looking for a stock transaction to bring them part way back. Either one works for me.