[quote author=vantage link=topic=40502.msg1115051#msg1115051 date=1275920944]
[quote author=Rosco link=topic=40502.msg1115046#msg1115046 date=1275920189]
It's this simple - as Moores already pointed out - the board are obliged to put the higher offer to the shareholders. Failure to do that can lead to a minority shareholder taking a case against the board - which is what Morgan and Granada were prepared to do.
There is no big conspiracy.
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But doesn't the board have some kind of influence over it?
Like Offer A is £4,500 per share and Offer B is £5,000 per share.
We have researched the offer of 'A' and don't like it as Rick won't be in a job.
We have also researched one of the partners for 'B' (hereafter known as B1) and he is a thoroughly likeable chap so we recommend him. We haven't done any work on his partner, the one whose money will be financing this as we have been told is a top bloke by B1 and good for the money by the accountants he pays.
Over to you. Vote away.
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Yeah but why would Granada or other non LFC supporting investors care about who takes over ?
They're only interested in getting the maximum for their shares, and they've got legal power as minority shareholders to force the issue.