case 9

Stephanie Thimodo (sthimodo@hotmail.com)
Fri, 09 Apr 1999 12:42:09 PDT

This case is based on a power struggle between the directors and the
shareholders. The board has no right to tell the direcctors that they
are incapable of making decisions regarding their own financial future

The tender offer should've been submitted to the shareholders to vote
on because they are quite capable of making a decision regarding
their own future without the smothering parent. Also the directors
rejection of the $35 offer based on Pogo's presence in a deal with the
defendant corporation shows poor investigation of fairness of the
offer by the directors. Therefore this case belongs to the Plaintiffs

stephanie

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