John, I read the Yahoo board.
I know one guy has collected email of folks claiming to represent 200K shares who would likely vote against.
But, I know of people with fairly large blocks that they control, besides Zimmer, such as 200K shares or more. If the company can motivate them, or pull other tricks, the vote could go through and I wonder how much legal recourse folks have.
I speculate some of the big guys are already talking with the companies, and perhaps their lawyers. Little guys could just sit and wait.
But, I am afraid that many are selling and being replaced by arbitrageurs or folks motivated to vote FOR the current deal. Heck, for all we know, Tumbleweed could be buying. So, the longer we wait before a vote, the more we may find it harder to beat this deal.
I have been tempted to buy more shares, but am not sure it is worth the effort. Still, I suspect the price may be raised, if only 10%. A lowball price is sometimes tossed in to start bargaining. But, the fact that both boards have approved this deal is ominous. I think our interest are not at all aligned, as shareholders, with the current management.
As I have said, I sold most of my shares for a profit and would not be hurt terribly if this deal went through. I already made much more than my remaining investment is worth. But, I do object to what has been happening on the principles involved. And, I do have friends who lost a bundle and some have even sold and sealed the loss. |
