Buyout offer imminent now !
CRITERIA FOR CONSIDERATION OF TENDER OR OTHER OFFERS
Section 1. Factors to Consider. The Board of Directors of the corporation may, if it deems it advisable, oppose a tender or other offer for the corporation’s securities, whether the offer is in cash or in the securities of a corporation or otherwise. When considering whether to oppose an offer, the Board of Directors may, but is not legally obligated to, consider any pertinent issues; by way of illustration, but not of limitation, the Board of Directors may, but shall not be legally obligated to, consider any or all of the following:
(i) whether the offer price is acceptable based on the historical and present operating results or financial condition of the corporation;
(ii) whether a more favorable price could be obtained for the corporation’s securities in the future;
(iii) the impact which an acquisition of the corporation would have on the employees, depositors and customers of the corporation and its subsidiaries and the communities which they serve;
(iv) the reputation and business practices of the offeror and its management and affiliates as they would affect the employees, depositors and customers of the corporation and its subsidiaries and the future value of the corporation’s stock;
I am also a betting man and with the pps about$2/s, top dollar offer will be no more than $2.50/S. When I bought my shares I was betting the price would be over $4/s. Win some lose some.
I posted a reply to Joeschmo and it screwed up the ordering of the thread in this message.
To joe: I don't think it is unjustifiable, but it has a lot of upside.
Billenlakeview posting were moved to under that message even though my message to Joe came much later than Billenlakeview's responses.
I wish yahoo would fix that. It seems to occur more and more frequently.
I am a betting man. I invest in stocks. I may be educated gambler, but it is always a gamble one way or another. Even if you know the stock will go up, you're gambling that is the best use of your money.
It's not a poison pill or a "sugar pill". It's also not about screwing the shareholders or the employees.
It is just a set of very vague guidelines that allow a lot of flexibility by the board to consider whether a takeover bid is in their best interests or not. They can consider anything whether it is inconvenience to the customers, interest of the employees, or value to the board and shareholders.
Basically, it's nothing important for you to worry about one way or another.
"the impact which an acquisition of the corporation would have on the employees, depositors and customers of the corporation and its subsidiaries and the communities which they serve;"
To me that says, "protect the employees at the shareholdrs expense". Translated: Takeunder.