Post by
McRambus on Dec 08, 2020 11:22am
Vote NO to Privatization
DO NOT vote in favour of managements cockamamie plan to allow and even help Cerberus steal the company from under our noses. The $14.50 Bid is WOEFULLY inadequate and is actually preventing the shares from moving higher. This is by design, for whatever reason management wants the shares they don't own to be sold at this discount...while they KEEP their shares. Speaks volumes. The high was $15.95 after earnings were released. This would be already closing in on $20.
The pandemic has changed the fortunes of this company possibly for many years. Bike sales worldwide are booming and will continue to boom. The way people move around is changing and cycling is the big beneficiary as people avoid crowded busses/subways. Their furniture business will also do well as people build home offices.
Cerberus is worth billions and has the means to pay a FAIR PRICE for the company. If you want to understand why Cerberus wants to steal the company from you just watch this video. VOTE NO..
https://www.cnbc.com/video/2020/12/08/how-covid-bike-boom-could-change-us-cities.html
Comment by
subliminal23 on Dec 12, 2020 8:22am
I will tell you the reason management is pushing this so hard. It is because they are getting a %57 increase in their equity because of the deal. They will own %31.5 stake in New company and it doesn't appear they are paying in additional capital. In essence they are stealing 50 million dollars of the minority shareholders equity. Just before a boom. How do we impeach the board of directors!
Comment by
Paddy902 on Dec 12, 2020 8:53am
Phoned in my vote when I received the materials on Thursday. First time in awhile I've voted on something!! If this doesn't go through which I hope, just watch them milk the company for all they can, will become a more obvious family cash cow machine. I may not stick around to watch that happen, but it would be nice to see at least one more good quarter.
Comment by
Leandre on Dec 12, 2020 9:45am
Just more negotiation. I imagine nothing else different after a no vote.
Comment by
McRambus on Dec 13, 2020 1:48pm
Hi, can you tell me where you see this? How exactly are they allowed to do this? Seems like the eqivalant of brown envelopes stuffed with cash being passed around the boardroom. Don't see this in the press release. I have yet to recieve the voting materials. How is this even legal?
Comment by
McRambus on Dec 13, 2020 2:04pm
Many thanks, I completly missed this press release last Wednesday. I guess it's all in the press materials which I have not gotten. How can something like this be allowed? Wow.