Business, 18.12.2019 03:31 Cmpine

Edit question utah light, inc. has a takeover offer from cal corp. utah light is experiencing difficulty with earnings and its share price has dropped from $32 to $19. cal corp's offer is for $23 per share. utah light's board meets once and reaches a general consensus after thirty minutes that because of pending plans and developing assets, it should not accept the offer as the actual value of the company is at least $30 a share - in their estimation.
1. must the board accept the offer?
2. if they reject it, have they exposed themselves to any liability to the shareholders? why, or why not?

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Edit question utah light, inc. has a takeover offer from cal corp. utah light is experiencing diffic...