“You‘re right, if it goes on for much longer, it will hurt us. Though we have no direct offer from the acquirers yet, I want to know those behind this. It would also help us appraise its attractiveness in comparison with our own assessment or what is applicable in the market.”
“If it is favorable, are you willing to step down?”
“No, Bestman Group PLC will remain under my control.”
“Remember Edward, everyone loses if this becomes an ego trip. You have to carefully think things through before making such statements. Still there are ways to get your way.”
“I have thought about it. I didn‘t sleep a wink last night.” He didn‘t add that part of that time had also gone towards thinking about his relationship and the weeks away with Gladys.
“There are a couple of poison pills open to us through our bylaws. Benibo and Mrs. Olayomi can explain in detail and how to apply them. The best is the preferred stock option. We could tap some of those investors who have been after us and the Chinese partners.”
“You‘re correct, we could put out some which have special voting rights that may possibly be used to approve the issuance of new shares, the acquisition of the company or to elect new directors; stuff that will actually happen as this takeover goes forward.”
“Exactly, use one stone to kill various birds. Our statement already mentioned the flip-in defense in the by-laws. That gives us the leeway to come up with the associated provisions. But before them, get all the shareholders like the holder of the seven percent behind you.”
“We‘re on their trail already. You did well, thanks.”
“You‘re welcome; let me know if you need something else.”
“I will do that.” The intercom on his desk buzzed and Edward pressed the button. “That‘s for my eleven o‘clock with Mrs. Olayomi and her team. I‘ll talk with you later.”
“When are you convening the entire takeover team?”
“That will be eleven tomorrow morning.” Edward stood and walked him to the door.
“Sure, let me know how it goes.”
***********
When they arrived at his compound in Lekki, the chauffeur opened the back door of his black SUV for Chief Okrika to step out. He‘d bought the house a few years ago though it was rarely used; they spent most of their time in Kano. His wife‘s Honda CRV was parked next to them. She was about to get into the driving seat and was dressed for a day out. Maybe she wanted to stopover and gossip with the few friends and relatives she had in the city.