Make it worse, that money was meant to be reducing Pact's debt...

Make it worse, that money was meant to be reducing Pact's debt to the creditors to improve the share price. By taking it privatised, he could just renegotiate or pay a bit extra to keep the lender happy and ditch the rest of money into his pocket. He kept on complaining the debt, but his motive apparently makes me think like this, out of that 160 millions, he will use the money to buy the remaining shares at close to no cost from his pocket but out of that sale of 50% of that crate pool division.

He ran IPO 10 years ago, got 70% of this stock sold at $3.50 then now collecting the company back from the sell of half of the division (I doubt if there is any money coming out from his pocket) that is why he is eager to push it to privatise quick. If that money was to be paid to creditors to reduce the debt as he been complaining, why would he wanted to take it down so quick before that 160 millions to go back to banks/creditors?

I am going to computers hare tomorrow, see if I get any luck up there