We’ve heard a lot of crazy and colorfully named anti-takeover devices and strategies over the years, from chewable poison pills to greenmail, golden parachutes, and the Jewish dentists defense, but this is unquestionably the nuttiest, as possibly also the most destructive of shareholder value.
[Goya CEO] Bob [Unanue] knew, when he said that [he supported President Trump], it was going to cause a kerfuffle. So he was doing it essentially to shake things up, possibly to save his job. And it kind of worked.” It worked, according to Josh’s sources, because it put the future of Goya in doubt. With one seemingly off-the-cuff remark, Unanue made the brand toxic to some of its most loyal customers, and sure enough, the [takeover] deal fell through.Did Goya’s CEO endorse Trump to prevent a buyout and keep his job?