Not a stupid question at all. It's called a targeted buyback, and yes, management can make a tender offer available to a specific shareholder. Usually used to kick out a vestigial remnant owner when the joint-ownership goes sour, or get rid of a troublesome activist shareholder, or as a golden parachute for an insider. Example would be if RJ gets canned from the company and owned shares (says he didn't but let's talk hypothetically here), you'd want to buyout his shares to get him entirely out of the business, no votes, no control (from Ken's point of view). Targeted tender offer at a fixed price and quantity is one method to do so. Wouldn't give one to 'just some guy' who buys a lot of shares though, unless your talking 15% of the company of course. There are better uses of $150k, so don't get any ideas. :)
Looks like I haven't missed anything the past few weeks. Surprising bit of volume the other day happening all at once and for no discernible reason; looks like a cross and since Machias claims to know who it is, I'd say he/she was on one end of it or another. Just a guess, doesn't really matter. March 31 deadline ticking, ticking, ticking.
Back to initiating sell ratings on Ag stocks...fun fun fun.
Cheers,
Saredi
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