Directed by Peter Jackson. With Martin Freeman, Ian McKellen, Richard Armitage, Andy Serkis. A reluctant Hobbit, Bilbo Baggins, sets out to the Lonely Mountain with a spirited group of dwarves to reclaim their mountain home, and the gold within it from the dragon Smaug. Director: Peter Jackson
A tender offer is valid only for a limited period, usually open for up to 20 business days. If a tender offer is accepted by the expected number of shareholders, a merger transaction can be closed in a short period.
We will assume that claims open for ten years will remain open, on average, for an additional twenty-five years. Then the âtail reserveâ would be the product of the number of claims open after ten years times twenty-five times the annual cost of handling the claim.