The stockholders are the OWNERS of the company. Why should an owner be forced to sell just because an employee (CEO) makes decisions they disagree with. The CEO and the Board have a fiduciary responsibility to the shareholders. If this deal goes south, you'd better believe that the shareholders will send Vicki and the board packing. If the company is still surviving at that point.
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Just sell your shares and move on with life if you disagree
It has started. Shareholders going public with intent to vote against OXY BoD at this Friday stockholder meeting. Lawsuits are being filed at this time. Now have a management and BoD in conflict when the shareholders...the owners. Management and BoD must go. No one railroads an OXY shareholder. Not going to happen.
Time to start voting out Board of Directors at upcoming shareholder meeting. Time to get behind activists shareholders to force out management. Time to initiate shareholder lawsuit. Management has destroyed shareholder value (down 14% in a month …April 8 share price: $68.37...now $58.60). Stock is trading at essentially 52-week low from a 52-wee high of $87.67.
Management made a much publicized deal w/ Oracle of Omaha at exclusion of current shareholders...$10 B of to-be-issued preferred shares paying 8% dividend...and the dividend payment is not deductible for corporate tax purposes as would be the interest on debt which could be obtained at a lower rate than 8%. This deal was made within a 1-hour hastily arranged meeting. This is reckless. Time for management to go or get thrown out.
What's it matter? VH just bypassed the ability to vote with the increased cash offering.