yes they can. I remember there being a proxy vote of some sort that required a type of supermajority, so that just 51% vote couldn't buy the company at some ridiculously low amount that would screw the rest of the common shareholders, and a specified process for appealing it that was short of a class action suit. If it were that simple, many companies would buy out at a cheap price and hose all the common shareholders. The Pink Lawyer may know of regulations in place concerning that issue.
But the bottom line was, if you were part of the small minority that was in at a higher price than the buyout redemption price, it was tough cookies. I am not suggesting that is what will happen here, but since i have a lot of PNMS at .006, it is of major interest to me. I believe the company to have a much higher value than that, and would be very disappointed if the buyout, whatever form it is in, doesn't truly reflect the present and potential value of the company.
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