Resisting the takeover, page-20

The fact that they are paying expensive consultants to do an external assessment on an "initial" offer is a worry. It says to me that the board may be split on this offer, and one or two of them may be looking for a justification to accept. The board should have been able to make a decision themselves within a day, that's what they are paid for, the fact that they could not, or would not, is a worry. It's not rocket science for some of  us who've seen these things for the past 30 years, I can tell them what the result will "probably" be now. The external consultants will say the offer is reasonable but not fair, for the reasons I've previously outlined. It's a simple decision which any experienced board should have been able to immediately come to. It makes me wonder what sort of lobbying might be going on behind the scenes, because there is always lobbying.

Gw