We all hope that this will have an acceptable end. What that is? I don't know, it varies for everyone.
I agree, they are fighting this to the end, but they might NOW see that they are going to lose, now that the fight has gone public. That's the other "end" that has be considered. Are they fighting this until the bloody end, where the company is bankrupt and they get no more money? Or were they fighting this to the bitter (for them) end where now they cave, because something is better than nothing? Until it went public and Denner pulled out the proxy, they might have thought they had a chance to "win" in some way.
As for them being that dumb, I don't know. Considering even the biggest proponents of management have seemed to have flipped to the "management needs to go side" I would think that management has to realize that they are screwed. But on the flip side, they are impressively dumb, if they were not impressively dumb, we wouldn't be in this position right now.
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