Raymore sent a letter supporting the directors that the majority of the shareholders agreed with. The other directors intent upon capturing thae assets of GWR either by board room takeover or definitely by not paying for them have disappeared by popular vote.
I haven't seen a letter from raymore suggesting an acceptance of the takeover.
In my opinion the takeover needs a sweetener. Lets hope the directors of FAS work it out. They're judgement or that of the GM has so far misjudged the market. Had they issued a 5/1 share swap when FAS was at a dollar they would have done the deal. Had they offered 7/1 when they offered 5/1 they would have done the deal.
The question is will they ever get their timimg right.
For both company's shareholders
I Hope so.
GWR Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
