to hold the special meeting on the Lockheed purchase by tomorrow? As of last week I happen to know they were in a frantic search for votes to reach their needed quorum. Absent getting those votes the special meeting will have to be cancelled and rescheduled at a latter date. And needless to say if that becomes the case they will have to spend additional monies in an attempt to solicit those needed votes.
Somebody on the message boards mentioned 91 million dollars. Perhaps Lockheed Martin has raised their offer to bring in the hold out ASTC voters in order to get the deal done. I pledged all my shares when they called me. Should be an exciting day tomorrow.
I think they will get the votes needed too, eventually anyway, but getting 2/3 of the vote is not easy at all even with Picken's 20%. Keep in mind that they need 2/3 of the shares eligible to vote, not just 2/3 of the shares that voted; that is a very significant distinction. In other words, "broker non-votes" is considered "against" the sale. There were 7,468,888 "broker non-votes" in the annual shareholder's meeting about two months ago. That is why they had to hire a firm to call the shareholders.
I was thinking about how the company might need to spend additional money to solicit votes if they fail to get 2/3 of the shares to support the asset sale by tomorrow, but then I realized that it's a pretty insignificant amount relative to everything else. Not sure how many times they tried to call me, but they were able to reach me a few times.