January 28, 2007
Compare Zell and Crawford
Both Sam Zell and Mac Crawford are facing buyout bids for their companies. Zell has encouraged an auction and raised the price an extra $2.7 billion ($60 million a day). Crawford has blocked an auction and favored the bidder offering a minimal takeover premium and a generous severance package to the senior officers (including himself). There is a right way and a wrong way to handle a buy-out offer.
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