Definitely no love lost between Saunders and Woolley - you will note that The Board has disclosed Woolley made a play to replace the Manager at typically horrendous fees.
When Woolley tried to justify his bid he made much of the incompetence of The Manager and that if Unitholders didn't accept then they would stay in place.
It is pretty clear Management will be replaced as their performance is indefensible. Their last chance to take a drink from RCU is if they complete a sale to Saban and trigger a fee which has been previously disclosed. Suspect that they wont be able to get an offer good enough.
Don't know how it will play out then - Steve Johnson from IIFunds has written in his Blog that "he is desperate but not that desperate" in response to original Saban terms.
RCU Price at posting:
45.0¢ Sentiment: Hold Disclosure: Held
