Pushpay shareholders forced to fight for offer’s ‘second coming’
ANALYSIS: Shareholders stepped in to do board’s job to get higher offer after directors recommended inadequate initial offer.
Why would directors recommend the initial offer at that level?
Independent directors used to fight tooth and nail for shareholders, but now it seems they'd rather just take the easy path. We need a return to a world where governance is less about box ticking, and more about delivering value for shareholders.
The Pushpay bidder was always likely to make a
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