Download Massey / Sunair Services Purchase Agreement

This deal reminds me of the Seinfeld episode when George and Jerry were trying to sell their sitcom pilot to NBC and George took control of the negotiation process. George began by telling the NBC executive who championed their show that the network’s offer for the pilot episode was far too small and that he and Jerry have agreed to pass. Only to come back in a matter of days and beg for whatever NBC would pay. (more…)

The Board of Directors of Massey Services is tired of waiting around and finally withdrew the offer on Sunair Services after Sunair announced its intent to pursue a formal sale process. Here is a copy of the withdrawal letter: (more…)

Download Massey / Sunair LOI - 12.05.08

Download Massey / Sunair LOI - 01.15.09

At this point, I don’t know which one is crazier, the board of Sunair Services or the board of Massey Services.

The saga began in the fall of 2008 when the Special Committee of the Board of Directors of Sunair rejected Massey’s all cash offer for 100% of Sunair’s stock. Throughout the fall, Massey Services continued buying Sunair stock, ultimately amassing a 9.6% stake in the company by the end of October. (more…)