RE: RE: Decter synopsis from Stockchase Let's say Company X offers $3.50. Is it not an obgliation of the Board to recommend acceptance or rejection of the offer as the next move? Either way, once the information is released, it comes to a vote by all shareholders. Presumably the major holders, i.e. Decter, will have a price in mind and tender their shares should their expectations be met.
Even if the Board recommends acceptance, another comany can still come in, express interest and our Company is obliged to open up the books to the new suitor thus hopefully creating a bidding war.
I would let Athena go for $3.50 if we got to keep the Greater Stella field. That's the deal I'd like!