i just look on the website at the home office and of all the postings only 2 are for hiring people at the office why there used to be alot more
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Who knows, but RAC will be lucky to get what they can. People keep saying that they already got a bid for $13 so it has to be higher than that. But we know thats not true, given how bad the company did last year. Last year's "bid" doesn't matter. It's like the RAC board and executives bought a 2017 Honda Accord for $25,000. They drove it 30,000 miles and even got into a small wreck so there's body damage. They try to sell it for $25,000, because, "well, that's what you offered me last year?" Sorry guys, it's depreciated and you done messed it up a bit too in the meantime! Prior bids mean nothing because the profit margin is down over 50% year over year, and no buyer is going to give you "credit" for the proposed alleged cost cuts you made. No one pays for a promise. They will be lucky to get $9 because that's still higher than fair value.
Rejected all bids? Not a chance. Prior management, maybe. Current management and BOD’s only objective is to get a deal done.
They're new strategy is to now expand the franchise model.... I swear they jump from idea to idea.
As for a new buyer, they said they will reconvene at the end of June to see if Rac will be bought out.
I could actually see them rejecting all the offers, as their ego's are large enough to assume they can rebuild it and get the price to $30 a share, so why sell at $10?
They supposedly rejected all offers.
Interesting. Buyout in the near future?