Ryan Drexler, the president of Consac LLC, sent a letter to Quiksilver begging the company to put itself up for sale, according to a story on Bloomberg.com.
Drexler, said
. . . the company should find a buyer “in order to preserve diminishing shareholder value before Quiksilver’s conditions get even worse.”
Quiksilver has lost nearly 75 percent of its value in the last year and Consac owns 3.5 million shares. So anything that would bump the price up would
be great for them. Then again, who would listen to a company that owns 3.5 million shares of Quiksilver.
[Link: Bloomberg]
