Sultan:
The only insulting to shareholders, imho, is done by the CEO of PC Docs. He has managed to destroy shareholders wealth to 1/2 of what it was a few years ago. Whatever is said of Open Text's morals in low balling PC Docs is really Rubin's doing, and the disregard the investment community has for his management abilities. Compare the stock price of Docs to Text, and it is quite clear, who has abused shareholders.
For the shareholders, the best thing to do is get the best offer, and cut your loss if necessary. Whether DOCs go to HUM, or OPEN TEXT, it is both a sad situation, thanks to Rube. If DOCs go with HUM, the incompatibility and uncertainty of the software marriage does not bode well for HUM's stock price. If DOCs go to Open Text, at least you get the best stock price possible, given the sad circumstances. If DOCs somehow manage to go alone (which I double, since Rube knows his number is up, and now, even the security blanket with HUM is being threatened)... continued woe to shareholders, as management has lost all credibility.
So, I like this bidding war, and will sell... and finally get away from years of incompetent DOC management. |
