I would be nervous if I were a Stewart and Stevenson director. A proxy fight is a pretty vicious battle. If Stewart and Stevenson does not have that vote, you?re going to see that meeting postponed so they can go twist some arms and try to get that vote. |
They're sending a message to the Stewart & Stevenson shareholders that . . . this is a real solid bid, and it's made by a real solid company that's very serious about acquiring you, and you shareholders need to know that the board has chosen to leave 50 cents on the table. |