'Easy' shares shenanigans
Forbes.com: Haji-Ioannou: 'Easy' Win Versus Stelmar Board"The first company he founded, Stelmar announced Monday that it was being sold to Overseas Shipholding Group for $48 per share in cash. Just three weeks ago, Stelios succeeded in killing an earlier deal that would have valued the company at $40 per share. The 20% premium is quite a nice appreciation, particularly given that rival shipping stocks have flatlined in that time, down 4% as a group. Unsurprisingly, Stelios left the door ajar for yet another potential board room brawl, when he added that he�d be 'evaluating the deal in relation to market conditions closer to the vote date.' He also got in a dig at top leadership who'd pushed for the earlier deal, when he thanked middle management for their hard work and success--despite the leaders' failure. Should the deal finally go through, Stelios personally stands to gain some $60 million. That, combined with nearly $85 million of EasyJet shares he sold in the past two years, will likely be ploughed back into one of his dozen Easy-branded ventures, such as his EasyCruise or EasyHotel, both of which launch next year. "
posted by Jen @ 6:58 am
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