Ann: Suspension from Official Quotation, page-128

First 128 Last

Share
Profile

Follow
coolcat1941

120 Posts.

38

06/06/22

14:44

Post #: 61845721
Share

Originally posted by TerribleTadpole ↑

"The board still trying to work out someway to get around all this, line their pockets and stiff the shareholders maybe ?"

I agree that taken in isolation on face value the takeover is a terrible deal for shareholders, and looks like a complete abdication of shareholder interests by the board. And if we take that conclusion forward logically, then yes, you're justified in this concern.

But the take-over offer came with up to $4 million in unconditional funding. That made it pretty hard to knock back. And we have no idea how this developed between the board and Pfizer. It's quite possible that the directors agreed to promoting a takeover offer in return for the cash, and then got ambushed by Pfizer with incredibly restrictive terms detailing exactly what they could and couldn't do. Quite possibly Pfizer picked up some reluctance or skepticism from the board and wanted to completely rule out any possibility that the board might try and undermine the takeover.

If you allow this as a possibility, then you would have to admit the possibility that the board has been looking for every possible way to escape the terms of the deed without breaking it (at a cost of $1 million). In this case a contrary expert's opinion would be exactly what they were hoping for. The delay could be the board trying to squeeze the best possible deal out of Pfizer, or even to convince them that it's not worth pursuing at all.

We don't know. We won't know until the announcement is released. If it turns out the board is trying to do us dirty there is plenty we can do about it. But in the meantime I would suggest you give them the benefit of the doubt and save your rage until you know it's warranted.
Hi TT..methinks you are being too kind to the board but understand your argument..Surely when the dust settles this board has to go

Expand

RAP Price at posting: 11.0¢ Sentiment: Buy Disclosure: Held
Upvote

0 Great analysis

Reply