CompUSA (CPU) Message Board

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Non-Tech : CompUSA (CPU)

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To: upanddown who wrote (3172)	1/30/2000 10:33:00 AM
From: Michael	Read Replies (2) of 3187

I didn't lose money on this stock, but that isn't the issue. "It was their fiduciary duty to accept a offer that was a large premium over recent prices. " I disagree. First of all "recent prices" to me was $14 a share. Secondly, you are saying if Microsoft received a takeover offer for $100 and it is at $98 today, they have a responsibility to accept it because it is above the "recent price"? That makes no sense. The board has a duty to do what is best for the shareholders. If their turn around plan as so great, why sell at $10 now when in 6 months the stock could be at $12 or higher? I think because the price is low temporarily and you get a higher offer is no reason to sell. If the turnaround plan wasn't sufficient to raise the stock price in the future, then the board has a responsibility to can Halpin. He has done sh*t for CPU in the last 3 years. That is where they really lacked responsibility.

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