In my opinion, this is a more balanced and informative letter compared to the most recent Supplementary Bidder’s Statement.
It’s worth highlighting the footnote that mentions as of April 5, 2024, there were 1,574 shareholders with marketable parcels (shareholders with at least $500 worth of shares). Continuing to maintain a high number of shareholders remains an important consideration. Every shareholder and separate marketable parcel of shares helps.
Ann: Takeover offer for PGH - Letter to shareholders, page-3
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