Quote: We implore you, the independent members of the Cypress Board, to once and for all allow shareholders, the true owners of Cypress, to decide the future of the Company...
Oh no. Don't get me started!
True owners of any company get there butts out of bed every day and go to work and struggle to build and create, research and discover. They employee people and families, and provide insurance, and make tough decisions while looking directly into someones eyes.
Shareholders buy and trade the stock for personal gain. Whether long term thinking or short term flipping. Even funds and limited liability corporations have one goal in mind to make a profit off of their original investment. If CYPRESS was at ten bucks they would have bailed in a heart beat while the real owners continue to work, and struggle, and build.
Personally, I have a hard time buying into that concept of a shareholder is the owner of a company. They bought those share from outside hands, who bought it from outside hands, who also bought it from outside hands. And those shares were traded from person to person, so many times it would be impossible to count. That makes the current shareholders important? Gives us a right to tell a company how to run their business - one they have run for years?
You are not the owner of Cypress - you are the owner of a piece of paper that can be flipped to another owner in a split second. A piece of paper that can be lent out by your broker to be shorted against you... without your knowledge. Your own shares!
Even Ramius at 9 million shares does not carry a voice unless he brings other voices to the table....and even Ramius hasn't been involved in CYPRESS for very long. I think this is arrogant at best.
This is about stealing a company - and ONLY that. A company that they had nothing to do with but to purchase shares at some point. They want this company cheap while they can get, but they are after something that will benefit them and only them ... which is why it's a Cash offer and then see ya "True owners" (They same true owners he mentions in his first line as being important. You aren't important enough that they want to keep you.)
They will pay you off - which is fine. Which is what many want. Make that cash - but don't think of yourself as owners of the company.
Quote:
It is incumbent upon you, the independent members of the Cypress Board, to allow shareholders to decide for themselves whether they choose to accept our offer of $4.25 per share in cash by tendering their shares in the offer or whether they choose to support management's strategy of depleting the Company's cash resources in pursuit of highly-speculative CNS drug development.
(Are those my only two choices? Geesh when you put it that way?)
That cash sweetens their deal. Buy the shares for 4.25 and yet snag all that cash and it sure brings down what they really pay for CYPRESS and the pipeline.
So IMHO?
Ramius is also in hot pursuit of highly-speculative drug development - They just don't want you to know about it.
So, on their advice....Take your cash and disappear....Like the "true owners" you are.
Or not.
A mind troubled by doubt cannot focus on the course to victory.
