This smell to high heaven Nat. There ought to be law against someone who has managed a company during its long share price decline (to a level that suits him) from making a T/O bid. What greater and more blatant conflict of interest could be open to someone in a position to influence a company's fortunes?
If there is no regulatory barrier to this kind of dirty pool all we shareholders can do is refuse any offer made by Perlstein or his mates, for what good that will do.
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