Yes, best offer for them, as they get to keep their jobs. I can tell you I have heard there were higher offers, but straight acquisitions. If true, this is a clear violation of their fiduciary duties. Management's job is to get the best offer for the shareholders. Refer to the recent Obagi deal, where multiple investigations by law firms were opened, which resulted in another higher bidder coming, thus resulting in the original bidder of 19.50, moving up to 24.
you are correct, as I stated above, I have heard better offers have been made, in terms for the shareholders, which is what public companies must accept, not ones that benefit management, else its a violation of fiduciary duties.
Well, you just never know. I'm holding as there is now no downside. I was in Caremark when the CVS buyout deal was announced for 21 billion in 2006. Express Scripts was never invited to the party and bid it up after the deal was made public contesting the low offer. The deal with CVS/Caremark closed months later for 27 billion, 6 billion more than the original agreement.
true, ya never know, someone could step up and offer 15-18 with no CVR stranger things have happened, or CBST just decides to pay up $15.50 all cash to make the headaches go away.......