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Who Needs The Shareholders' Opinions?
from the not-us! dept
Well, well, well. Here's the story of IBeam, a company in serious money-crunch trouble, who is making a desperation deal with Williams Communications to get some cash to stay alive. However, they claim they're so desperate for cash, they don't even have time to get shareholder approval. Yes, there seems to be something fishy about this, because the shareholders' positions are definitely being diluted by the deal. However, another way to look at it is to say that if the deal doesn't go through, then the shareholders end up with absolutely nothing anyway, since the company is out of money.
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