'admin' pid='27819' dateline='<a href="tel:1377138 Wrote:Minimal talk, minimal confusion and space for mishaps, misinterpretations, or worse, deliberate distortions. Also, you don't want to complicate the negotiations themselves, or future ones should this one fail (which I'm not assuming, quite the contrary). And simply take comfort from the fact that sooner or later E/A is going to be monetized at more than acceptable terms. It's simply way too good a resource for that not to happen, with interests and mutually beneficial deals possible for an array of potential partners. Yes, I know, the history, etc. But that happened already, nobody can change that. I think we're in good hands with Hession, let him get on with the job.
Agree. Hession obviously has come in and assessed things and seen too much talk which led to multiple communications, not always aligned. Only one way to change that before things really do fall apart as far as deals; go overboard the other way to establish control. Strict clamp on communications as far as any sensitive details to honor agreements and disclose when required. We've quickly seen that change, and it's for the best. Some might be surprised to read this:
"As a general rule, federal securities laws do not require parties to publicly disclose ongoing deal negotiations, even if the negotiations are material, until the parties reach agreement."
"No comment: In the absence of a duty to disclose, a company usually follows a policy of silence (or makes a “no comment” statement) in response to questions about merger discussions. In addition, to prevent leaks, the company directs all market and media inquiries on potential transactions or other corporate developments to a designated company spokesperson, and limits the group involved in preliminary deal negotiations to a small group of senior executives."
"Market rumors: Unusual market activity may trigger a requirement to disclose under applicable stock exchange rules. The NYSE requires listed companies to make a public announcement if rumors or unusual market activity indicate that information on impending developments has leaked. Nasdaq requires listed companies to take appropriate corrective action if rumors or unusual market activity indicate that information on impending developments has become known to the investing public. To meet exchange requirements, a company may issue a public announcement as to the state of negotiations or development of the company’s plans."
I think we are seeing these being implemented with Hession coming on board.