How can management, who is supposed to be maximizing
value for all shareholders represent both itself (a select group of shareholders wanting to purchase the balance of shares at the most advantageous price) and ALL shareholders, at the same time.
Not exact matches
The new company expects to create substantial
value for T - Mobile and Sprint
shareholders through an expected $ 6 + billion in run rate cost synergies,
representing a net present
value (NPV) of $ 43 + billion, net of expected costs to achieve such cost synergies.
«The proposal
represents a unique and compelling opportunity
for Goodman Fielder to maximise
value for its
shareholders and create a leading Asia - Pacific agricultural and consumer staples joint venture with strong financial resources and Asian understanding,» Wilmar and First Capital said in a joint statement.
Murray Goulburn said its revised off - market offer «
represents compelling
value for WCB
shareholders, delivers them a demonstrably superior
value outcome relative to all other competing proposals, and is simple and straightforward».
Rio Tinto chief financial officer Chris Lynch said «The sale of Northparkes
represents great
value for our
shareholders and demonstrates our continued focus and discipline in the way we allocate capital across the Group.
«While making the decision to sell was difficult, we are confident that this transaction
represents excellent
value for Torstar
shareholders and importantly further strengthens Torstar's financial position and capital base as we continue in our evolution as a company,» Holland told financial analysts.
On July 8, 2008, pursuant to authority granted to them by our board of directors, John Bowers, our President and Chief Executive Officer, and Alan Levy, the Chairman of our board of directors, sent a letter to Tang Capital indicating that, after reviewing and considering the Tang Capital proposal to enter into negotiations to acquire Northstar
for $ 2.25 per share, our board of directors determined that continuing to proceed with our cortical stimulation therapy system
for the treatment of depression and pursuing other strategic business combinations
represented better opportunities to maximize
value for our
shareholders compared to the Tang Capital proposal.
In fact, the return of capital via a tender offer should also provide further reassurance:
Shareholders could be unfairly penalised if they accepted a tender offer based on incomplete info, and / or an NAV per share that did not
represent market
values for all assets (& liabilities)-- potentially exposing the board / company to legal action.
Again, we believe this proposal
represents a unique opportunity to maximize
value for Take - Two's
shareholders, and that the combined enterprise would be extraordinarily well positioned to build
value for our respective customers, employees, developers and other business partners.
The increase in the
value of the offer above $ 88.50
represents an additional $ 1.2 billion
for Tim Hortons
shareholders or seven billion Timbits (based on $ 8.49
for a box of 50).
The roughly $ 15 billion deal
values GGP's assets well below Wall Street estimates and
represents a disappointing resolution
for shareholders.