4 reasons for voting against Taro’s board and FOR Blue Mountain’s candidates
1 I don’t trust Sun Pharma – This Company is in the business of screwing up the minority in companies where they are the controlling majority. They succeeded in squeezing out Caraco’s minority. Emboldened by their success; they try to do it twice to taro’s minority- and failed! But greed never rests; it just waits for the next opportunity.
2. I don’t trust taro’s board –It was nominated by Sun Pharma (%66 ownership, %77 voting rights), to serve the interests of Sun to the detriment of its minority.
3. I don’t trust the External Directors- Dov Pekelman, Dan Biran and Ilana Avidov. They try to screw up minority twice and if elected they’ll try again..
First time was when they declared a war of attrition against minority by taking longer than nine months to reject the low ball offer from Sun of $24.5 that should have been reject on the spot as ‘laughable’.
Second time was when they rubber stamped another low ball offer from Sun for $39.5/share when Taro’s stock was already traded between $40 and $48. Even though $39.5 was completely inadequate, these directors could have redeemed some of their decency if they would have insisted on some customary premium. Unfortunately these directors contemplated the minority should sell their shares to rthe majority for a negative premium. In Hebrew this kind of behavior is called Chutzpa!
4. Blue Mountain’s candidates are very impressive. If elected, they will work for ALL shareholders and most importantly they will restore much needed credibility to the board and only then taro’s stock will reach its fair value $135-$160.
I hope all minority shareholders will vote AGAINST on items 1, 2, 3,4,5,6, 7a, 7b,
and FOR Blue Mountain’s candidates by voting FOR on 8a, and 8b.