Posted by: Anonymous Coward
on June 02, 2004 09:33 AM
Their motive is the same as RBC's... they want to hit the exits and not take too much of a bath. As preferred stockholders they had a seat on the board (see Joe's article) and had significant influence on the direction of the company, at least in theory. Now after getting a better look they've decided that's not worth keeping. They tried to get SCO to refund their money and McBride said no, so this is the next best thing... most likely they'll unload their common stock stake as best they can over the next several months. If they could sell it all today for @$4.80/share my guess is they probably would.
All this Baystar talk about SCO's excellent IP position should be considered part of their exit strategy. They want to sell their stake for $5 a share or more, not $1-1.50 a share which is what they'd get if they trashed SCO's case publicly.
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Re:Not sure about BayStar's motives here...
Posted by: Anonymous Coward on June 02, 2004 09:33 AMAll this Baystar talk about SCO's excellent IP position should be considered part of their exit strategy. They want to sell their stake for $5 a share or more, not $1-1.50 a share which is what they'd get if they trashed SCO's case publicly.
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