On February 21st, Party C calls Stifel and says, hey ... We hear you are holding a bake-off for EDAC ... We might be interested in buying it .... Keeping in mind that Party C was not even on the radar of Stifel, EDAC mgt, EDAC lawyers. Just a phone call, out of the blue.
Did it not occur to ANYONE it was obvious on Feb 21st that news of the effort to sell had leaked? A phone call, out of the blue, from someone not on anyone's radar. Hello? Anyone with a brain at home?
That was absolutely the day that the IDIOT lawyers of EDAC should have said ... The news of the bake-off is out. The stocks volume is spiking. The shares are leaping. We should immediately disclose to the public that a negotiation for sale of the company is in progress.
The fact that it took another month to make that disclosure is an absolute CLUSTER FORK. And I hope both Puggy and Purple, and their sorry piece of junk lawyers get b@tch slapped for it.
Wondering, if EDAC was being shopped for offers, I would assume interested parties would be precluded from acquiring shares based on this info. As such, Greenbrier should not have added to their position during the February 14 until offer announced period.