The board of directors have a fiduciary duty to entertain all offers for the company and allow the company to be put in play.
To have a closed door meeting that is sign, sealed and delivered by the board with Harry Reid "signing" off on the deal makes me cringe.
You have long term shareholders of a utility that will be underwater with this deal. There are many shareholders that own this stock in the mid 30's when it was SRP and entangled in the Enron scandal.
I encourage shareholders to attend the upcoming shareholder meeting and vote NO on this deal at this price.
Really, Uncle Warren could not throw in another .25cents and make it a flat $24...
This company is just getting its MOJO back and the board of directors announced last December that they were committed to building shareholder wealth and increasing the dividend each year by 10-15% for at least the next 4 years.
I would not be surprised that a fair valuation of this company at this time is well over $25 a share.