Re: The special committee
Craig Albert (ALBERTCR@shu.edu)
Mon, 01 Mar 1999 09:53:19 -0500
My reading of the record is a little different. I don't think that either
of those things happened at the first meeting. It appears to me that, at
the first meeting, the special committee agreed on a process, in which they
would determine whether or not the offer was fair; that they would receive
advice from investment bankers and lawyers; and that the merger should
require a majority vote of the minority stockholders.
It wasn't until the second meeting that the special committee heard from
Angelini. I don't see anything to indicate that the special committee
prepared a separate valuation. As to part B of the question, the
third-to-last and second-to-last paragraphs state succinctly what the
cpecial committee relied on.
------------------------------------------------------------
Craig J. Albert
Associate Professor of Law
Seton Hall University
albertcr@shu.edu (973) 642-8032