what happens if stockholders, like myself, think the buyout price is too low? It seems to me that Bobby C went ahead and got himself a price that would allow him to make money and just get rid of Citrix as easily as possible. what percentage of stockholders have to agree in order for the deal to go through?
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In a way, they've put a cap on the share price, so no matter how much they buy (as long as there is some supply), they should never drive the price much above the $104.
Actually, I wonder if the PE are buying shares now? Anything they buy now, they pay less than $104 for, later, and still get some dividend checks in the meantime.
I also think the $104 price is too low. The private money is saying it's up 30% from the rumor, but that also happens to be the 52 week low, and an extremely weak period in the market in general. I was expecting more around $123.
There appears to be zero doubt that the buyout is a done deal, but I've wondered how significant the "* subject to shareholder approval" caveat is.
The PE do own a large number of shares, possibly enough to swing most any shareholder vote. But as I understand it, they won't own a majority of shares outright until the close. Do they additionally have commitments of some sort from large shareholders to vote in favor of the sale?
Is there any possibility that shareholders could vote "no", still?
Contact SEC. Some kind of collusion going on with $2.25B Wrike deal with Vista and now Vista/Elliott buying Citrix for $104/share. The buyout price is way too low for shareholders to accept.
Contact SEC. Some kind of collusion going on with $2.25B Wrike deal with Vista and now Vista/Elliott buying Citrix for $104/share. The buyout price is way too low for shareholders to accept.