In a situation like this, the Board is composed of representatives from the big institutional holders. The Board would approve any M&A deals at all....bit or little....buying or selling.
The needed shareholder votes are already in the bag. But yes, the company will spend millions of dollars and send you a ballot to make it seem like you have any type of say in the matter.
And exactly why they do own so much, so they can build the MEGA MULTINATIONAL FINANCIAL CONGLOMERATE and approve most anything they want, INCLUDING and not limited to a TENDER OFFER BUY OUT and then take this whole thing private
And pard I am right there with ya came on the heals of TPG's investment so yeppers a long long time think that was in March or April of 2008
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