Duh? That point was actually implied by my initial comment.
Nobody said anything about fairness or duty.
My point was that if the seller is trying to maximize its self-interest by maximizing the IPO price, leaving no room for growth after IPO, then buyers probably want to take a pass at that price.
Nobody said anything about fairness or duty.
My point was that if the seller is trying to maximize its self-interest by maximizing the IPO price, leaving no room for growth after IPO, then buyers probably want to take a pass at that price.