A further thought on a cheap 2 dollar takeover. If you see it in the context of a $4M profit for the two directors you might think they would not accept such a small amount. But if you add the context that they are both paying interest or have locked up personal funds into a non productive asset, a 2 dollar takeover starts to look attractive. I just think it's a bit near sighted to assume they would reject what the rest of us would reject. Well that's my thinking take it or leave it.
Fair Value Please, page-333
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