Probably yes. Maybe we will get lucky and they will announce they are exploring alternatives for BEF.
If current management and the board had not gotten slam dunked yesterday, they would have already announced the results. Maybe they will wait until late Friday afternoon and bury it in an 8-k.
Dear Management and "old" Board,
While you may not have computers or access to the internet, please find a way to check the price of HRL..
Let's see..... HSH, HRL.... what could it mean?
hope Sandell has some good PE funds circling now they are getting at least 5 board seats and maybe more. Value of buyout should be at least 70 PPS.
Sentiment: Strong Buy
Their after hours buyback increase was a shameful attempt to deflect the beating they took at the annual meeting. Only the beginning....
increased dividend and buybacks nice hopefully the new board members push for sale this year
Sentiment: Strong Buy
Both sides are spinning today's vote. If Sandell wins BOBE will be broken up and the food processing part of the company will be sold off. Think Hillshire. In my opinion, bobe would get an excellent price and could use the money to improve the restaurant side of the business. Again, I expect a 10-15% pop if Sandell can take control or nearly does.
y2k7trillionover your comment " : I hold no position in BOBE because I do not like city slickers (like Sandell Asset Management ) running agriculture companies." Would you not say city slickers have been running BOBE the past 6 odd years??? Just asking?
Just a note that BOBE isn't an agriculture company and they are not vertically integrated. They process sows for sausage and breakfast sandwiches and potatoes for refrigerated side dishes. They buy raw materials from suppliers. Some of the products they manufacture may/may not be sold to their restaurants. Neither business has grown under Steve Davis' tenure as CEO/Chairman.
Just curious about them.
What I've noticed about hedge funds:
--They recommend breaking up a company so they can borrow heavily against one side and using the funds to enter positions in other companies.
--They recommend acquisitions to benefit via synergies.
--They recommend spinning of companies to expose value.
Isn't all of the above just pushing money around in circles?
Note: I hold no position in BOBE because I do not like city slickers (like Sandell Asset Management ) running agriculture companies.