It just occurred to me that our bank received offers from two other banks. And we know one of those offers was from Bay Commercial for $4.15 in an all stock deal...and it was a welcome improvement over the FNB offer....but we don't know who the other offer was from or what the offer was to rest assure we did our best.
The general assumption is whatever that anonymous bidders' offer was it must have been lower than Bay Commercials' offer...and therefore wasn't the best offer...end of story. However, is it really the end of the story considering managements penchant towards accepting offers that serve their own interests only. They've earned a questionable reputation from shareholders.
So how can shareholders be assured the Bay Commercial offer IS the best offer?...the answer is we can't..and it's a fair question.
I'm re-thinking this whole process... and until we see all the cards face up on the table I'm not ready to say Bay Commercial should be declared the winner!
This is about trust and fiduciary responsibility... and so far management hasn't shown they can be relied upon to deliver on either one!
===================
Marker:
Valley Community Ban (VCBC)
$3.95 0.0 (0.00%)
Volume: 0
"The problems that exist in the world today cannot be solved by the level of thinking that created them." - Albert Einstein
