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I'm just arguing that she can't let the company go bankrupt when she placed a bid for $0.40. Even if she could, she could loose control of the company when all
by javierluraschi 2y ago
I'm just arguing that she can't let the company go bankrupt when she placed a bid for $0.40. Even if she could, she could loose control of the company when all shareholders get wiped out, not sure the court will let her keep 70% through bankruptcy.
- toomuchtodo 2y agoActing as a fiduciary would entail seeking a buyer at the best price possible, not a low "take private" offer. Can the CEO demonstrate they're working to find someone to buy them? Edit: https://finance.yahoo.com/news/23andme-ceo-wojcicki-open-third-220638092.html https://finance.yahoo.com/news/23andme-ceo-wojcicki-open-thi... > A special committee formed by the company rejected Wojcicki's previous proposal, deeming it insufficient and not in the best interest of the non-affiliated shareholders.
- javierluraschi 2y agoIf we agree that public market are the closest we can get to realtime market value, it's hard to argue it's easy to find a better offer. Otherwise, many other companies that are down 95% from their 2021 highs should just find a buyer of their companies to maximize shareholders value. I think we are disappointed that the market is giving $ME and many other companies non-ZIRP valuations at 95% discounts, and we don't have the cash to buy them at the bottom, like she can.
- deleted 2y ago[deleted]