How can it be that company (a) owned by a person that is the Chairman of a company (b), (in this case KRS) be allowed to attempt a takeover of company (b) below what that company's advisor's assess is well below fair market value?
I have no idea what the corporate governace implications are, but at the very least the whole situation is far too incestuos IMHO.
The irony is that the very reason Wildweb of (KRS being an illiquid) market as a reason for holders to accept his (Traher's) offer of 32.5c is the very same reason that if the bid fails, then he could be well and truly shafted.
Off the Board for sure, and the value of his substanstial holding at the mercy of his (seemingly) arch enemy HH!
MCP Price at posting:
$3.30 Sentiment: None Disclosure: Not Held
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