CoastersRZ Posted January 21, 2010 Posted January 21, 2010 Cedari Fair lawyer to seek dismissal of lawsuits against Apollo sale Read the article from the Sandusky Register here: http://www.sanduskyregister.com/articles/2010/01/21/front/1876014.txt Definitely a very interesting article and a must read. A quote from the article: Both companies filed requests late Tuesday and Wednesday asking the court to halt motions to uncover information. And the quote that I found most interesting was this one, a quote from the attorney representing Cedar Fair: He added Cedar Fair wasn't acting as an auctioneer and therefore was not obligated to sell the company to the highest bidder. Correct me if I`m wrong, but should the board of directors of a company want to sell itself to the highest bidder? I mean, it would be in the best interest of their unit holders. But of course this is the whole basis of these lawsuits after all. The go shop period for a better offer ends on Monday. And it should be noted that Cedar Fair units closed today at $12.21, well above the offer price of $11.50 per unit.
RollerNut Posted January 21, 2010 Posted January 21, 2010 Seems to me, the Chief officers are just seeking a big payout and don't give a rat's *** about the unitholders.
CedarPointer Posted January 22, 2010 Posted January 22, 2010 Seems to me, the Chief officers are just seeking a big payout and don't give a rat's *** about the unitholders. And allowing the company to go bankrupt will be better for the unitholders?
The Interpreter Posted January 22, 2010 Posted January 22, 2010 Posted this morning by me in the Cedar Fair sale thread with a VERY similar comment: http://www.KICentral.com/forums/index.php?showtopic=20462&view=findpost&p=358234 No news as to the rulings today as of yet...
BoddaH1994 Posted January 22, 2010 Posted January 22, 2010 Let's keep this all together in the following thread (where this sub-topic is also being discussed) http://www.KICentral.com/forums/index.php?showtopic=20462&st=330&p=358234entry358234
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