Further on Yankee Candle
David Phillips at 10-Q Detective is an excellent equity analyst who provides consistently diligent and thorough reviews of corporate events and governance matters. He has just written up in this post a recent 8-K for Yankee Candle (YCC.)
As I had suggested yesterday, the conflicts that exist between management serving its own interests in a takeover and the minority shareholders that have hired them can result in a sense of unfairness. Just as the business is hitting on all cylinders, it becomes someone elses' vehicle to ride.
As David points out, management has provided itself with substantial severance packages so long as the Change in Control event occurs by April 1, 2007. David is quite correct in his suggestion that this puts a very high probability on the successful closing of this deal in the first quarter of 2007.