Rodent Regatta

Berkshire Hathaway made an offer to Clayton Homes to buy the company for $12.50 a share. Several shareholders or shareholding institutions wanted more. Berkshire wouldn’t go higher. The vote of shareholders approved the deal.

Now, one of the institutions has gone to court, suing some directors for fraud. How in the world does an institution come to the conclusion that they will somehow get more money even if they prevail in court. All the court could do would be to void the deal.

Under that circumstance, the company might go back into play, but it can’t possibly be worth more given all the legal fees and feuding.