While nothing is certain, no reason was given for the revised bid downwards, and Carsome raised funding to cover the purchase so I don't believe it's an unrealistic or unreasonable amount. Carsome were interested at that price, so it just appears that Grove isn't managing his conflict and endorsed a boost to his own future profitability by reducing expenses from his future company, something I've never seen done before in a takeover transaction (where the offer price is reduced and accepted by the target, without justification). All the background integration between the bidder and target is there, including ownership involvement, so there is every indication they wish it to proceed.
As such, I voted No as I the offer is no longer fair or reasonable to most shareholders, being less than offered to the majority holder, and less than originally offered with no skeletons found.
ICQ Price at posting:
52.5¢ Sentiment: Hold Disclosure: Held
