RE:RE:TMR - nice play for the Management.schocor wrote: I think Newmont is driving the bus on these decisions because 1> They own the majority of the shares. Management? They are dictating the terms or even meeting with relevant parties when it come to making a deal to sell this company.
The Board and senior management are the prime fiduciaries in this case and their first duty is, under Canadian corporate law, to represents the best interests of the Company. If they chose to defer to the whims and directions of the largest or controlling shareholder they expose themselves to personal liability for their failure to act in the best interests of the Comapny.
Yes, Newmont will happily weild its perceived power, and assume minority shareholders will just remain dumb, blind and frozen into inaction. These are the circumstances, and the oppresive abuse, that start successful shareholder class actions, in my opinion.
It is high time that our directors and senior officers started behaving as the fiduciaries they signed up to be: it is not a difficult legal concept to understand and follow for most morally minded individuals.