that hiring a financial advisor and announcing it has no impact on a stock, and is not the way things are done in the "real world," take a look at MWG today. Announced it has hired Goldman to solicit bids and the stock is up 27%!
How about our board of directors doing the same thing?
I'm not sure that anyone said that announcing the hiring of a financial advisor has no impact on a stock. But, hiring one just to make the stock bolt when you have no intention of putting a company on the auction block is not a good business practice, and may even be illegal. While I'm sure that CQB would entertain a strong offer from an outsider, there is no compelling reason to auction the company or to have someone stir the pot. This is always a desparation move, when management has no forward strategy and they cannot see a means to survive in the long run.