RE:Time To Rip The Band-Aid Off...?Why do you assume 'strategic alternatives' = takeover deal?
I doubt there is a takover deal. But there are many other 'strateigc alternatives' that they could be contemplating.
Register123 wrote:
Perhaps it is in the best interest of shareholders for CXR's Board to officially disband the Strategic Alternatives Committee if no takeover deal is imminent..........I think the market is (correctly) viewing this committee as a crutch CXR is using to prop up its share price.......Dissolving the committee and putting out a press release indicating same would probably result in another dip in the share price, but, barring any other bad news, I think investors will appreciate the candor of CXR's Board in stating that no deal is imminent and the Board is ready to solely focus on meeting earnings guidance and paying down debt to earn any resulting share price increase..,.........Of course, CXR's Board can remain open to any friendly takeover offers that may subsequently be presented to them and execute any other "strategic" move, none of which require a the presence of a "strategic alternatives committee" to execute. Fees being paid by shareholders to Greenhill / other individuals who have been hired to do this "strategic alternative" work would also end as I suspect that whatever these parties were doing or recommended should have been completed by now........In my view, the time is now to move forward without continuing to offer this "takeover deal possibility" fig leaf to investors as I suspect many in the market have become skeptical about exactly what fruit continuing to maintain this committee will bear....Personally, I think a takeover offer of $50+ Canadian per share would be a good deal, but if such an offer doesn't exist or CXR's Board and Major Shareholders are certain this offer is too low, then I think it's time to show some integrity, disband the committee, and focus in meeting or achieving CXR's earnings and debt repayment goals.....