if a tree falls in the forest ... I guess I found more of what I am looking for in the circular. Some details about what was going on last year:
- If the company was up for sale and entertaining offers for MWS from AngloGold ($300M on December 19, 2011), why was this not stated publically?
- Why, if the company was up for sale, did the company the disclose the options it was considering (i.e. sale of shares, asset sales) before the one specific option that is hugely detrimental to shareholders became Fait accompli?
- If the company was up for sale and nobody was interested in buying the company, why did the company not disclose this?
- Why was RBC Capital Markets needed to find a buyer? If the company had actually made an public announcement that is was considering being sold and looking for a buyer, it could have used RBC Capital Markets to evaluate offers. Apparently, it used RBC Capital Markets to find buyers (only one, so they say), the Special Committee evaluated the offer, and then RBC Capital Market offered a fairness opinion. The fact is, nobody except FIU, FIU insiders and RBC Capital Markets knew FIU was was up for sale. Therefore, FIU had not publically disclosed that is was up for sale.
If a company is up for sale but the company is keeping it a secret, is it really up for sale?