|
sgw2, your key words are "finish the season." What we DON'T know, liability-wise, are the ramifications of Pook's statement that liquidation would outweigh the 56-cent offer. Vannini could well dispute that in court as he seems to be disputing it publically. As you said (and Bond predicted), Pook's statement says $8 million is "it." As we sit here and now, is that true?
Vannini and Eaton control about 2.2 million shares, plus Fuller, Thayer and the other outfit with a million or so each. That's around 4 million shares against to start with....pretty close to the 5.7 million or so needed to defeat it.
And if it comes to a proxy fight, Vannini could up his load at a moderate price and Eaton could, too. CART's BoD liability insurance company could be squirming bigtime right now.
|