What if the board agrees to the offer and Riggio, Burkle &Aletheia support the deal
I have a theoretical question that concerns me... I have roughly 1500 shares since years (so not good, but my question is what if what if the board says yes to the offer and Riggio, Burkle, and Aletheia Research and Management, Inc agree to the takeover, then we are pretty much out of the game, right? ... I know that BKS trades above the offer from Liberty, but those three alone have 59% of the outstanding shares to vote and they can do whatever they want to do? I am sure the other board members have another couple % and then they do not really need our approval, right?
yeah, you should sell above the offer. because it's better than you would get otherwise. not even sure why people are speculating that it would go over. it's like you're losing money buying it over 17. it should be trading 16.75. Question is what happens if Liberty says oh this is a bad idea and they pull back their offer and dump their shares. Burkle is the only one who wants more, and he doesn't seem to have anyone else in his camp to support a higher bid. So I don't think Burkle will get it unless the board gives into him, because Liberty Media leaves and they'd rather something than nothing. Of course Burkle could just say no, too, losing interest. Stock could go to $5/sh or worse be forced into liquidation like Borders. All possibilities. The question is what is more likely.
all good points. Liberty will buy at there current offer. It's a question of weather the board and shareholders want to sell at the price. It's very clear if they say no the price will drop big time if Liberty leaves.