RE:RE:RE:The only supporters of this stock are us Longs! Not only will shareholders not see bid by bid, we won't even know there are bids.
there was a great post a few back, explaining the " takeover process".
I'll give in point form...first my " qualifications".
I was on a B.O.D. As a director for 4 years. Nothing to do with Onc, but familiar with " deals" needing board approval etc.
More importantly & relevant, I have owned a few companies that were taken over during my share ownership.
so..been there done that as they. Say.
First. Understand; The fudicuary duty of the Board of Directors is to represent best interests of ALL shareholders in any business that could change significant ownership of the company.
Second, any deal brought to shareholders to vote on will come with a multi page package, as well as links to validating documents.
Third any deal negotiated starts with a " non- disclosure- agreement"
They are in place to protect both buyer & seller.
Next & most important, any negotiated deal, would have an independent 3rd party legal & financial opinion. That document would come from an outside accredited audit/ legal organization.
The moment, there are negotiations in- place, every minute, every discussion is recorded & dated.
The one company I held, when " we got the news" that package, gave a starting date & opining offer.
Dates & rational of counter offers, leading up to final " draft agreement" , to be evaluated by both sides " outside opinions".
Meaning validity to both buying & selling shareholders that the agreed value is fair & not overpaying or leaving much on the table.
reading that. Do you honestly think the 1000s of shareholders have even have close to the ability to properly evaluate & negotiate a buyout deal?
so, no upfront this or that option.
unless a Hostile take over offer is presented. In which case the company. Pfizer for example would issue a stop trading order & make a public offering to shareholders directly.
that wouod come with News release, followed by paperwork to accept or decline the offer.
they seldom go well.
bottom line.
The company I mentioned, included a 3 month back & forth history if negotiations.
then final draft for board approval, then shareholder vote to accept or decline the negotiated deal.
quite frankly " we" are not even close to qualified to negotiate in best interest of ALL shareholders & longevity of Pela as a cancer drug.
some would be happy with $5ps , some $15 ps , some would be disappointed with $30ps.
would you want a shorter, as part if your votes?