Читать книгу Applied Mergers and Acquisitions - Robert F. Bruner - Страница 45

The consequences judged over the long term probably appeared stark for employees and suppliers. If Miller fought and lost the firm to Steinberg, the company would be restructured, possibly ending the creative marriage of animated films and theme parks that Walt Disney consummated. As a believer in Walt’s vision, Miller probably felt that this would be a net loss for consumers and the entertainment industry. Greenmail, if it purchased sufficient time and operating flexibility, might grant the firm space in which to restructure itself and improve shareholder welfare. Doing so would give the CEO and directors discretion over how to restructure and realize greater shareholder value without sacrificing the unique operating virtues of the firm.