I seem to recall something about the REIT bylaws that make hostile takeovers difficult. I'd have to do some research to figure it out, but maybe someone else could help.
I posted last week that if I could raise the money, I would buy every share of PZN, leverage it up, pay myself a huge dividend, sit back for a few years while it cash flowed away the debt, then sell it for for a few billion dollars profit.
Well, I can't raise the money, but Doc is surrounded by plenty of folks who can. Sodexho, Massey-Burch, Baron Capital, HSBC and so forth. Those of you calling for Doc's resignation will see this company go private first. And before that happens, Doc will no doubt do everything he can to vindicate his strategy. Might be able to, might not. At some point though, in Doc's words, it falls in the category of "life's too short".