RE:The situation now....Hi 20,
Litigating a better price would only serve to enrich lawyers, not shareholders. Providing a realistic valuation of Torstar with a hostile and incompetent Board would be an act in futility and would be subjected to all sorts of crazy scenarios conjured up by a hopelessly useless CFO.
None of us believes $.63 is the right number and perhaps the brothers Proud can extract for us a better price. It will never by the full value and the blame rests with the Voting Trust who waited until things were beyond their modest abilities to initiate a sale process that would generate full value.
The beginning of the end of sorts was the VertigoScope acquisition. If there was a more boneheaded investment in the world I would like to see it. Ploughing nearly $200 million into a non-cash generating advertising-driven business after selling a cash cow like Harlequin is incomprehensible. They would have been better off handing the funds to Bernie Madoff to manage...
We will find out shortly if $.63 become $.72 or better. It will still be an awful outcome for everyone involved except the bobbleheads on the Board and the executives. No shareholder can be blamed for this debacle.
MW