The PlanLooking back I was always curious why Andrew and Jamie were loading up with cheap shares with the various private placements that took place over the past few years. With the uncertainty of the Shiseido Arbitration hanging over the company they continued to buy into these placements to the tune of 27,400,000 shares between them.
It now looks like this take-over may have been the plan all along. With the threat of bankruptcy being dangled they thought let's see if this low-ball takeover offer will fly. I think it is abundantly clear judging by the response that the outsiders are not in favour and will do everything possible to block this.
Will they come back and offer a more conventional take-over bid where they actually offer the shareholders a buy-out ?