More than 1/3 of share float is in Mgmt Friendly hands
Can anyone see that CWH Mgmt/RMR have control of more than 1/3 of float in friendly hands?
SO ANY SHAREHOLDER VOTE TO REPLACE THEM IS FUTILE,
PLUS - THEY CAN ALWAYS CONTINUE ISSUING ADDITIONAL SHARES!
CORVEX / RELATED / LUXOR can buy up all they could get and still have no control - FAIL!
And then have all that capital suffer the same bad fate.
ARE THEY TOO ARROGANT OR DUMB TO SEE THAT?
Your dead wrong.
RMR is in a precarious position and they may get the door..they don't control the big votes, and that's a group of angry shareholders. Check out major ownership and they are holding the bag on this one. New group has more friends than RMR. Could be a big battle but I think CORVEX, et al..can take the company.
Recall my claims over the last few weeks about artificial price-propping of the stock by metered, controlled buying. We learn this afternoon that Perry Corp., which owned no shares in 2012, has bought up 6.5M shares in 2013 for a 5.5% stake. Now why would yet another activist come along and buy up shares at a huge premium?
Here's what I don't get: If the NAV is only $20 to $24 (according to Stifel Nicolaus), why would institutional investors be buying in at $22-23 for the last two weeks just to accumulate voting shares? What, so they can ultimately sell at $24 down the road? That's a lot of premium-price buying just to make a dollar per share or to help out the minority shareholders? Obviously, someone thinks there is a lot more value in there, for some reason. Someone help me to figure this one out!