Chairperson is elected by and from the directors of a company....

Chairperson is elected by and from the directors of a company. Is this a delaying tactic? Don't UNV have to appoint a new director prior to voting on a new chair? If so, the new director must be approved by shareholders. I'm clutching at straws here. If shareholders appoint a true independent director then its 4 vs 4 on the board.

Perhaps a good hedge is TER shares .

Members of the board who have a vested interest in a takeover cannot vote. So you'd think the takeover offer (inevitable now) must still represent decent value). As i previously said, gimme 32c and i'll run.