Leisure Suit Larry (solved)
Is this the 'Larry' they made that game about?
Influential investors are opposing NetSuite’s $9.3bn acquisition by Oracle for selling their firm short. The cloud pioneer’s single largest unaffiliated shareholder, T Rowe Price Associates, has written to NetSuite’s board in a letter here explaining why it won’t hand over its stock for the deal. It raises a major question …
T Rowe Price is laying the groundwork for a Breach of Fiduciary Duty lawsuit. That's going to take the shine off the deal.
Not seeking other bids is extraordinary behavior by NetSuite -- I hope their Directors & Officers insurance policy is up to date. The first thing any sane negotiator does is seek other interested parties so they have more options and leverage. Which suggests that this was a cram-down by Larry? If I were a Netsuite customer I'd be very worried.
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