He wants to company sold, but in a transaction where the outside shares get paid much more than they're worth ($30's) and the shares owned by the mutual get paid nothing! That's right: NOTHING. In short, he wants another mutual insurer to take buy out the public for a huge price an then take over Donegal Mutual without paying a cent for their shares.
Mr. Schiff: Please be very careful on this. Please review the purchase of Harleysviile
Group/Harleysviile Mutual from Nationwide Mutual on Sept. 28, 2011. There is no
apple dumpling in jail. Get the Board's out of the fog = employee.
He is stirring the water. The company does not want to sell and he has a lot of stock which he can't get rid of at the price he wants. The mutual company controls the stock company and has no reason to sell. It only started the stock company so it could grow more efficiently. The President Don Niklaus has said over and over that they have no intent of selling.