~10% Shareholder Bradley L. Radoff Issues Open Letter To GSE Systems' Board Of Directors To State Opposition To Proposed Sale To Pelican Energy Partners; Believes Proposed Sale Represents An Egregious "Take Under" And Significantly Undervalues The Company
Portfolio Pulse from Benzinga Newsdesk
Bradley L. Radoff, a ~10% shareholder of GSE Systems, opposes the proposed sale to Pelican Energy Partners, arguing it undervalues the company. He urges the board to disclose 2025 projections to allow shareholders to evaluate the deal properly.
October 18, 2024 | 12:20 pm
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Bradley L. Radoff, a significant shareholder, opposes GSE Systems' sale to Pelican Energy Partners, claiming it undervalues the company. He demands disclosure of 2025 projections for a fair evaluation.
The opposition from a major shareholder like Bradley L. Radoff can create uncertainty and potential resistance to the proposed sale, likely leading to short-term negative sentiment around GSE Systems' stock. The demand for more transparency and projections could delay the merger process, affecting investor confidence.
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