If Cruickshank arranges a full Take-over, then all shareholders will be treated equally, except that Cruickshank looses a very well paid job.
However, if he arranges an asset sale, then AZZ will always trade below its NTA and shareholders will be locked into a very high risk exploration company.
In the absence of the checks and balances of a truely independent Board, what is to stop him making a 'selfish' decision?
AZZ Price at posting:
59.0¢ Sentiment: Hold Disclosure: Held