3dfx not done yet

[JohnGalt]

In order for that deal to be finalized, the shareholders would have to approve the deal. Why they would do that is beyond my understanding. There is no way shareholders will get anything out of the deal as 3dfx will be paying their liabilities first with the money... so why not let 3dfx continue until a better offer comes along. So, I doubt shareholders will vote yes.

 

[SexEPid]

Oh yes, the link to this story is here

Pid, TYRP

 

[beer]

Why?

If we (I am a shareholder) don't approve the dissolution of the company then we will lose all of our value when they file for bankruptcy anyway.

 

[BigToque]

Elemental007,

Love the sig

Anyway, right now its a bit of a gamble. If the shareholders do not agree then the deal does not go through, correct? If it doesnt go through, does 3dfx have enough money or assets that they could try to crawl back into the market with Rampage?

Of all times, why would nVidia choose right now, just before NV20 and Rampage will be out (I dont know any dates, but it should be soon), to try to buy 3dfx? Maybe nVidia knows what 3dfx has going for them with Rampage and their next card Fear, and is a bit worried.

Thats not to say that nVidia also just decided they wanted to buy them out, get their technology and take a strangle hold on the market like any business hopes to do.

 

[Shazam]

Shareholders almost always approve takeovers/mergers/buybacks/etc. Simple reason being that the Board of Directors almost always have proxy over shareholders. In other words, the BoD ownz the shareholders.

 

[JohnGalt]

uh no how do they have proxy over shareholders.
they send a proxy to shareholders, who vote
that's it

 

[BigToque]

I dont know much about business, but are you saying that the BoD has 51% of the company, so everything he says goes?

 

[JohnGalt]

they definitely don't, go check yahoo

 

[Shazam]

The BoD doesn't need 51% of shares.

When I mean proxy, I mean control, not how many shares they own. The vast majority of the time, shareholders are like sheep. They follow what the BoD tells them to do.

Think of it this way. Why would you buy shares in a company (barring hostile takeovers) unless you thought that the company would do good?

Anyhow, shareholders are up the plank anyways with TDFX. Do you really think that there's a better way for shareholders to receive value back from their shares other than the course of action they are doing now? How would them holding out help them? Does it somehow make their accounts payable suddenly disappear?

 

[kyoshozx]

Even if the share holders dont approve of it. 3dfx doesn't have any money to continue it's operations. I'm sure the sale of 3dfx will go through.

 

The shareholders will sell.
I bet most are not understanding of the technology and how the chips work etc.
They see it as numbers on a ticker.
Selling now probably gets them out at a fairly decent rate.
Why would they refuse a buyout from the current leader of the undustry?

 

[NikPreviousAcct]

dissolution?! NNNNNNOOOOOOOOOOO!!!!!!!!!!!!!!!!

That means I can't sell my VD3 for much money they!













...oh, wait...











I can't do that anyway.