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E-Trade (ETFC) rejects Citadel's request for a special shareholder meeting but directs the...

E-Trade (ETFC) rejects Citadel's request for a special shareholder meeting but directs the company to retain Morgan Stanley (MS) to "conduct another broad review of strategic alternatives." ETFC +3.4% AH.
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  • Mike Maher
    , contributor
    Comments (2723) | Send Message
     
    From the press release E-Trade put out:

     

    "However, in response to Citadel’s request, E*TRADE has formed a special committee of the Board, comprised entirely of independent directors, which has directed the company to retain Morgan Stanley & Co. LLC (“Morgan Stanley”) to conduct another broad review of strategic alternatives."

     

    SO they refuse to call a special meeting, but give in to exploring a sale? A little odd but its a positive for shareholders.
    22 Jul 2011, 04:35 PM Reply Like
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