Hi, Chief. I agree, we are ultimately saying the same thing. (And that $2 in my example is ludicrous). If someone were to start a hostile takeover, the shareholders would see the bid whether or not the Board approved it. GLE's transfer agent would have to provide a shareholders list and the bidder would mail the offer to them, bypassing the board after initial rejection.
The rights plan makes ignoring the GLE board very unlikely, although it is still possible to do. It's even more difficult if the Board operates very closely (no dissension amongst the ranks).
In the end, if an offer were to occur and it were not "fair", it would probably not be successful. How you define "fair", though, is always open to interpretation and it's amazing how the people factor and politics influences this process (say some members who control a large number of shares consider an offer fair whereas others, such as the founders, don't).
Anyways, at the end, I do agree with you but just wanted to raise the point. Your post makes sense and would be the most likely should an offer occur, but there is always a remote possibility of something different (IMHO).
Regards, t. |
