question to the board: what's the end game?
We've discussed ad nauseum the specifics in regards to GVAX, CVR's and undervaluation- we've discussed how these greatly affect our decision to vote- in general terms, the sentiment on this board is leaning towards NO to the merger- not necessarily because the merger is bad, but because of the way it was written/presented.
My question is assuming that the retail shareholder can influence this vote and results in not merging- where does that leave us? Revise the terms? part everything out? bankruptcy?
I'm of the opinion that if they were trying to get the most money to retire to an island, there are other ways of going about it.
Domino's have been set up over the course of the year- PPS dropping in the face of very little to no negative news- we popped in Feb after Bio-T but haven't returned- since then, I can't recall any substantial amount of negative news to drive us to our current PPS during that period of time (I can recall a few positive PR's that did very little). I can't see them trying to drive price down because we would've seen a "cause and effect" already- sometimes we as a board come late to the party and if we can see assets being undervalued in this merger- shouldn't all of the financial sector see that as well? I'd say that's pretty negative, but PPS hasn't responded in turn as one would expect.
We're all speculating, there isn't any truth or fact in anything we say unless one of us is actually on the BOD, just wanted to get thoughts on their end game and what options remain should we not merge. Thanks in advance
-RG
