'jft310' pid='71044' datel Wrote:Wapi Understand Hession and the BOD are in Breach of their Fiduciary Respondsibilities . Nothing they can do now they are in a box . An amended deal still leaves them in Breach based on the original deal terms . Deal voted down they don't get paid . Deal approved with revised terms they are in Breach they do not get paid . Botten flying to NYC to try to convince funds to accept deal in current form . Odds of that near zero . Deal should be handsomely upsided . No payday for Hession or the BOD in either scenario . Argues for an immediate filing of Breach . Pay the law firm with a percentage cut of the savings and the amount of the increased bid . What are shares really worth only answered with a filing of Breach . Most likely in London .
JFT, actually, if the deal is voted down they get 50% of their Golden Parachute, is the deal is changed and then goes through to pass, then they get the full 100% of their Golden Parachute.
The first 50% was triggered by the Chairman of the BOD recommending the deal to the shareholders. This applies even if the deal ultimately fails.
The second 50% is triggerd at closing the deal.
One of the resolutions in the BLUE Proxy is to stop the massive Golden Parachute.