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$36 is a low-ball offer. It's worth a lot more, just based on the earnings power of the seating division. $40 is also too low, but Wall Street is pretty short term focused, so what happens next is anyone's guess.

Compared to the posts in this forum less than a year ago that this company was about to go bankrupt, I'm inclined to think the stock is worth between $0 and $50.

:P
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