OTCPK:HBAYF - Post by User
Comment by
seatleslimon Jun 18, 2019 2:49pm
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Post# 29837015
RE:RE:RE:RE:Surprised stock not up more on this
RE:RE:RE:RE:Surprised stock not up more on thisI might be 100% following, but it wouldn't be for lack of cynicism. Teachers has a high profile and not only is closely watched by its beneficiaries, but is highly averse to trouble. They have an obligation to do the best they can for retirees. I assume they calculated in January that Baker showed no inclination to sell the company and made the deal with him, because they felt there were no good options.
I think you're assuming that there going to be in a spot where they are voting for a deal that, say, gets them another dollar, or nothing. I just don't think there in a poition to allow themselves to be very publically robbed by Richard Baker and some hedge funds. That's not to say they lead an activist campaign.
Just my opinion, but I feel certain the process gets away from Baker. It's a very sloppy and awkward tender on so many levels and these are not obscure assets, where nobody is watching or cares.