what happens Seems to me as though the asset sales must be defeated at this point. What happens if a competing offer for the shares comes out and the asset sales are accepted? The board has been supporting the asset sales, but yet this is clearly not in the shareholders best interest if a higher price for the shares is available.
First, the fact that somebody is willing and apparently able to submit a offer for the company which gives the shareholders certainty shows that the board did not properly compete it's task to find buyers.
Secondly, the fact that an FIU company meeting is being held to decide on specific asset sales which will liquidate the company is being held is unacceptable if somebody is putting forward a paln to purchase the company shares.
Thirdly, the board is clearly acting against the best interests of the shareholders in continuing to proceed with the meeting in which a yes outcome to the asset sales is possible. As a shareholder, we simply cannot have a Yes vote to asset sale while there is a bid for the entire company.
Finally, there is no circumstances or decision the board could make which will allow the board to have the confidence of the shareholders. The board must resign. The shareholder must elect a new board and this entire process must be restarted with the highest priority to find a buyer for the shares of the company.