This was a company that was destroyed by poor management and an...

This was a company that was destroyed by poor management and an incompetent board. They have cost shareholders millions.

You only need to look at the share register to see that the management team and board hold very little stock. They have done nothing but collect enormous salaries along the way all funded by shareholders they diluted endlessly. Its the only public data centre business that has gone backwards just about anywhere in the world. I think it was 4 CEO's in 4 years and major changes to the management team on each occasion. Which tells you everything you need to know about the state of this companies board and the people on it. Outright incompetence.

Consider the fact that the company acquiring them has to provide them with capital so that they can operate long enough to complete this transaction. Thats the shape they were currently in and not a week back they were trying to present a picture of health to shareholders with the quarterly.