05-23-2016, 07:19 AM
I would like comments on this as a strategy to try to influence mutual fund managers to vote no.
Everyone against the deal would buy a share of every single mutual fund that owns shares in IOC and then write a letter to the fund manager laying out the case to vote no and make a threat to sue for breach of fiduciary realtionship should they vote yes.
I know it hard to prove breach, but maybe the threat of enough shareholders of the fund might make them think they should not just rubber stamp the deal.
I assume the fund managers vote on behalf the fund. Correct?