No. of Recommendations: 20
Or...do we prefer that the foundations receive the massive amount of B shares and just sell them on the open market?
Ummm, yes? Obviously?
Were you expecting a different answer?
Share transfers between individuals don't change the value of a share up or down, whether gifted or at any agreed price. It's irrelevant to the value of a share.
Conversely, company buybacks at valuations which might be above fair value drive the value of a share down.
If you're an ongoing shareholder, which would YOU prefer?
Plainly the rational answer is no buybacks above fair value, ever. Let individual shareholders and prospective shareholders shuffle things among themselves at any price or no price, and pay no attention to it.
Jim
