Couldn't agree more.
The way they responded and ignored the offer is inexcusable. At the end of the day, the AU1 board is made up of salespeople, if they can't create competitive tension how can they sell houses!
Their largest shareholder is interested in helping them out and they just ignore them. Instead of having a conversation with Magnolia, they try and pick pointless holes in their letter. Not sure how someone can buy a company with little to no information or assistance from the boards. I also love how they are sceptical of Magnolia but not of Bob Peters. This is probably why the board deserves that pay rise.
Unlike the majority of the people that follow AU1 on HC, i am a long standing holder and will be thanking Magnolia for the 4c. Giving away 50% of the business to someone that makes money from horse racing, I can only imagine who they have lined up for the next dilution.
Couldn't agree more. The way they responded and ignored the...
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