The New QLogic (ANCR) Message Board

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Technology Stocks : The New QLogic (ANCR)

QLGC 16.07

0.0%

Aug 24 5:00 PM EST

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To: Bill who wrote (17443)	7/27/1998 11:48:00 AM
From: Joe13579	Read Replies (1) of 29386

<<management would be forced to accept a 200% premium if it came along>> Sorry Bill, you are wrong. There is a lot more than just the stock price at issue when a buyout offer is presented. Management cannot be forced to change their officers/employees/location. Management cannot be forced to erase poison pill provisions already in place. I won't get into technicals with you, it's true that anybody can make a hostile offer for $6/share, but there is no fiduciary duty on behalf of the officers to sell Ancor at a 200% premium just to satisfy their stockholders; the fiduciary duty that the officers do have is to make decisions based on the best interests of the company. Rob

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