EDITORIAL: Bias in the boardroom

Dominic Sewela’s bid for Barloworld is a textbook case of a corporate governance nightmare. The CEO’s attempt to spearhead a R23bn management-led buyout is a case in point. 

Earlier this week, shareholders voted down the R123 per share deal that valued the company at about 4.3 times its historical ebitda but a generous 90% higher than the stock average value adjusted for trading volumes, before the buyout talks went public almost a year ago...

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