Empire Builders ยท EB-040
HE DECLINED THE OFFER AT NINE HUNDRED MILLION. THE BOARD NEVER SAW THE REVISED BID. HE WAS NEGOTIATING COMPENSATION.
In July 2002, a senior executive presented a valuation of Gordian Search that led to rejecting a $900 million offer. Unbeknownst to the board, the analysis included an undisclosed footnote indicating a pending revised offer, which impacted their decision.
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