No Sale, No Merger: Mike Z.

For more on Nortel’s AGM, here’s my story in today’s National Post. It is interesting that CEO Mike Zafirovski’s strong interest in boosting the stock price through improved operations may have something to do with the fact he’s got millions of stock options, including a new tranche with a $2.12 strike price. So, if the stock doubles or triples on the basis of better profits over the next few quarters, it’s likely Mike Z. will do much better financial than selling the company for a 20% to 30% premium (40 to 60 cents at current levels).

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