What that goes to show bukka is the naievety of the FAS management in expecting that FAS shareholders (apart from the Round Table and doilies) would accept 5/1 and then 7/1 for their GWR shares. Had FAS directors been rational and savvy and offered 7:1 as the initial bid they may have been able to capture the GWR shares. In retrospect to GWR holders this may have been not a great trade, but the security that control would have offered may have stabilised the GWR share price.
What we have been subsequently shown is that stupidity and greed amongst directors and management will stuff shareholder aspirations!
In my opinion the management expertise of FAS, GWR and therefore Classic is a no no in terms of investing:
Rose may have tipped the scales, but sending him packing proves their naievety.
FAS Price at posting:
2.1¢ Sentiment: None Disclosure: Not Held
