current stake implies blocking stake if there any o/seas interest sniffing around
IF and O/seas interested party wanted MYR, they aren't going to be worried about Lew's blocking stake ... let's face it if someone came along and offered $1 TO bid at present, most mum and dad investors would probably take it and run / cut their losses (probably try to get a CA going as well with one of the ambulance chasers?)... IF the corporation obtained anywhere between 75% -88% of shares they may not own the group entirely, but Lew's voting power / wish list for Board appointments etc etc etc etc would be useless... I couldn't see him sitting around and being told what to do by the new 'majority' shareholder ... he would have no say whatsoever and whilst a thorn in their side they would brush him aside every-time he opened his mouth - just sayin'.
While I have reached a conclusion that MYR needs Lew at this point ... he is not the only solution .... it will just depend on what solution comes along and at what point ?
IMO I also believe that anyone still invested in MYR (long or short term) has accepted the fact that their investment could quite possibly be lost altogether at this stage so they are letting 'it ride' so to speak !
MYR Price at posting:
40.0¢ Sentiment: Hold Disclosure: Held
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