"I think people saw us as being compromised, despite the fact it was a good offer.
"It didn't happen, and I'm very pleased now that it didn't happen."
So if the offer was so good then why is he VERY PLEASED it didn't happen?
The part I liked is that he justifies the payout to himself and the other management by saying that is how equity takeovers work.If the role of the board is to look after the interests of the shareholders and the offer so good then why did they not endorse the takeover bid without the need of a financial offer to themselves?
Is it true that in a recent takeover of an Australian bank that the outgoing CEO is getting paid $11 million.
Sound familiar?