Share buyout?

lse:fgp

#1

I think is disgraceful that the board of First Group did not impart the information contained in the bid to shareholders
, rejected it out of hand without any reference to shareholders. The company is owned by the shareholders and the board work for the company-how can this be right?


#2

Why didn?t they reveal the price? My opinion is because they didn?t want to put themselves under pressure. As I don?t know what price was offered I can?t say what are management doing rejecting £x as if I argue that management should have accepted the bid it?s assuming that the Apollo bid was decent.

Apollo could have chosen to go hostile and direct to shareholders, but have decided against it.

Management better have something decent up their sleeve, can?t believe one shareholder is happy with current management. Support for the board is at all time lows. But it?s amazing how long poor management that runs companies with seemingly no regard for shareholders can stay in post. Look at premier foods.


#3

Is it possible that there was something nasty lurking out of sight? Of course this is completely unconnected but didn’t the Telegraph point out that FGP have a pension deficit of roughly £10bn. but a market capitalisation of roughly £1bn. ? If Scotland did become independent then who would pick up the bill if First failed?