Tender Offer Failure Needs To Be Followed By Proxy Fight To Oust Entire Board
If less than a majority of the outstanding shares are tendered it would mean that a majority of the outstanding shares are held by people that do not agree with the Boad of Directors. The next logical thing to do is to elect a new board.
Great idea, the board and management team are unbelievably. After the latest letter today from Sarissa Capital, Astx management and board discount the comments and actually make negative comment about ASTX. Sounds like they are already working for Otsuka and not ASTX and ASTX share holders. This board should be put into jail!! Fire them and let them bankrupt Otsuka.