Heritage Bankshares Inc. Message Board

Virginia law requires two-thirds vote to approve a merger ... going private in a MBO won't be that easy without the outsiders on board.

Which is good ... you'll almost always get more from an outside acquirer. But you never know when management might decide to pay up ... e.g., Virginia Hot Springs. Insiders took it private, but they paid a nice price.

Checked it out. Don't think insiders have enough stock, even with continuous buying. You can relax. Look for an outside buyer ... bigger premium.