AGE - Wachy Merger - The Untold Story
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Bagby and Kessler are the only two officers on the 7 person fiduciary board and of course the only two guys that got a compensation deal from Wachy.
All of the other senior guys and gals long time devoted senior managers like Mary, Brian, Peter, Gene, Doug, et al are not even consulted about the deal. But guess what? All of those guys and have deferred comp deals that only kick in if there is an unfriendly deal. So what does Bob/Ron do for them? - NOTHING! If any of them screams or bitches about the deal they get their arss fired and loose their deferred comp deals...which is a bunch of cash for most of them. So Bob and Ron have their troops gagged and in fact blackmailed into spreading all of this BS about the need to " be globally competetive!"
Can any of you point to one benefit that existing AGE clients or employees will have after this deal?
Does anyone know any individual shareholder or AGE guy who is for this deal? Anyone?
Bob and Ron only have two sell two outside directors to get this deal done. And has far as anyone knows only they are the only two that got a big fat compensation deal from Wachy. Can anyone say Green Mail! An Oh don't be surprise if you see a bribe ...err I mean "gift" heading over to Washington University as a result of the the "thoughtful and meaningful" assistance that Mark Wrighton provided to this deal!
If Bob truly believed in shareholder value then put the company out to bid. 16% premium over market do you think that their would be other potentially better deals?
Whats comes to mind is share holder derivative suit. That happens when the board neglects their fiduciary duty and allows blatant a Green Mail scheme to happen. I wonder if anyone has the nuts to drop that bomb on "The Bob".
Hey Bob lets hope you get drummed out and sued for being the backstabbing greenmailing whore that you are.
The Real Story
He is Chancellor of Wash U and one the five outside directors on the fiduciary board of AGE.
Do you think that UBS buying AGE shares the way they were had anything to do with the way this deal went down?
[quote=Big TED]
Bagby and Kessler are the only two officers on the 7 person fiduciary board and of course the only two guys that got a compensation deal from Wachy.
All of the other senior guys and gals long time devoted senior managers like Mary, Brian, Peter, Gene, Doug, et al are not even consulted about the deal. But guess what? All of those guys and have deferred comp deals that only kick in if there is an unfriendly deal. So what does Bob/Ron do for them? - NOTHING! If any of them screams or bitches about the deal they get their arss fired and loose their deferred comp deals...which is a bunch of cash for most of them. So Bob and Ron have their troops gagged and in fact blackmailed into spreading all of this BS about the need to " be globally competetive!"
Can any of you point to one benefit that existing AGE clients or employees will have after this deal?
Does anyone know any individual shareholder or AGE guy who is for this deal? Anyone?
Bob and Ron only have two sell two outside directors to get this deal done. And has far as anyone knows only they are the only two that got a big fat compensation deal from Wachy. Can anyone say Green Mail! An Oh don't be surprise if you see a bribe ...err I mean "gift" heading over to Washington University as a result of the the "thoughtful and meaningful" assistance that Mark Wrighton provided to this deal!
If Bob truly believed in shareholder value then put the company out to bid. 16% premium over market do you think that their would be other potentially better deals?
Whats comes to mind is share holder derivative suit. That happens when the board neglects their fiduciary duty and allows blatant a Green Mail scheme to happen. I wonder if anyone has the nuts to drop that bomb on "The Bob".
Hey Bob lets hope you get drummed out and sued for being the backstabbing greenmailing whore that you are.
The Real Story
[/quote]
It matters not if every single thing you said is true. All that matters is that the deal is done, and pointing fingers and crying into your beer isn't going to change that.
Move on. Either take your check or don't.
[quote=Spaceman Spiff]Do you think that UBS buying AGE shares the way they were had anything to do with the way this deal went down?[/quote] THE REAL STORY!
Thats what got WB's attention.
Ludeman had been talking to Bagby on and off for a few years. Bagby kept turning down any meeting. Ludeman saw UBS buying a lot of shares. Ludeman called Bagby and was told "Come to STL and bring whoever can sigh off on a 7 Billion deal". This was around week of May 14th, same week 2 WB bankers killed in Alabama. This delayed the meeting until the weekend. WB and AGE had the deal hammered out by Sunday night.
UBS or Wach Sec you choose. I think your a winner!