Carter and Baxter persuaded the Board to unanimously support the previous lower offer and continued to spruik it as late as last week. So you can conclude that Carter and Baxter had no role in the increased offer.
The increased (but still inadequate offer) is most likely Gilbertson and his more rational advisers responding to the reality of the current market price. But his ego (which btw was his nickname at Billiton) will not let him quite meet current market price. He actually believes the mere mention of his name adds value.
So back to the dynamic duo - Carter and Baxter - why are they still there? As well as demonstrating a total lack of commitment to their shareholders, they are now demonstrating signs of incompetence. Time to turn our attention to getting somebody in control of CSM who is aligned with the shareholders.
The only people promoting CSM shareholder interests are the major shareholders and retail activists like Rimtalay. I thank you for your efforts.
CSM Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
