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Dover Motorsports Inc. Message Board

  • slim_niceguy slim_niceguy Sep 28, 2010 4:40 AM Flag

    Bidder in the wings

    They will lose any shareholder suit if they refuse another offer that is made now above the 75% off sale they are offering shareholders in this exchange. Very interesting that non affiliated shareholders of the common must approve in the majority. I don't think they can pull it off. Significant suits will be brought with lots of precedent. An appraisal will have to be done...and there are lOTS of transactions to support a much higher price. It is almost like they are saying..OK here we are..we are requiring a majority of all shareholders to approve so come and get us at a fair price.

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    • I agree that they are taking a risk to zip these 2 back together. There's not only the shareholder votes and potential lawsuits, but the Feds have to at least nominally look at the deal....if only to approve it in a couple of places.

      Question: does anyone think that Denis, Tippie and the rest of the C-suite morons have the stones to claim a "change of control" provision to activate their enormous golden parachutes?

 
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