From Breakingviews - Ritchie founder perfects disappointed dad routine
, or the proxy advisory firms that lambasted it, or the 20% stock plunge on its announcement. The company stretching for its acquisition has done something worse: It disappointed dad.
Ritchie investors are expected to approve the fiercely contested deal on Tuesday, a surprising outcome, especially to company co-founder David Ritchie. He, together with another former executive,against the transaction on Monday. The pair didn’t speak out before because they assumed, given the weight of opposition to the deal, it was dead. Now, in a last-ditch attempt, they’re asking shareholders to rescind votes already cast in favor.
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