PJC Batches Job When It Comes to Increasing Shareholder Value for SYNM
On July 17, 2013 Syntroleum (SYNM) announced they had retained PJC to evaluate strategic alternatives to enhance value for the company's shareholders. On the day of the announcement SYNM was trading over $7 per share. Yesterday it was announced that SYNM entered into an asset sale agreement with REGI to sell all of the company's assets for REGI stock valued at under $4 per share at REGI's current stock price. It looks like PJC did manage to negotiate a sweetheart deal for SYNM's management but in the process they screwed the company's shareholders. PJC buyers beware.