Denner will not wait a year or two. I think we're looking at months before a sale at this point. Denner has publicly declared war, so the game must certainly be nearly over.
I do respectfully agree with everything else in your post.
Good post. I would guess almost all longs are willing to deal with whatever results Denner can produce. I do not underestimate Berger's strength, but surely hope whatever defenses he has can be beaten. Berger has repeatedly shown all along that shareholders are the least concern among his goals. I am sure he has worked hard over the years and has financial stability plus. The flash crash that surprised longs was disgraceful and I hold him entirely responsible. I do not want to wait a few more years for a reasonable return. Enough is enough.
I think the way one perceives Berger depends to a large extent on how long one has been invested in the company. Post crash investors still trust the man, most pre crash investors do not for good reason.
"The hedge fund may not seek a proxy fight in the coming weeks if an agreement is reached with the company." God willing, things will start to move quickly now. I believe Denner will politely explain to Berger, just how much leverage and influence he has over the institutional investors - and how they would vote, should a proxy fight materialize
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