Description: “The board of SNC-Lavalin is seemingly content to deny shareholders the chance to retain a top-quality investment. Instead, with this 407 sale, shareholders are forced by its own board to gamble on rescuing a now near-worthless asset, a deal that strikes me as cruel and Machiavellian,” Jarislowsky wrote in an open letter published Monday on the website of the Canadian Foundation for Advancement of Investor Rights (FAIR Canada), where he is a director.
Source: BNNBloomberg.com – video report
Date: May 01, 2019
Link: https://www.bnnbloomberg.ca/jarislowsky-calls-for-snc-shareholder-vote-on-machiavellian-sale-of-highway-407-stake-1.1251418
Questions for discussion:
- What are the issues in this situation?
- How will the sale affect the finances of the firm?
- What would you prefer to see management do?