What if the purpose of the hiring of Baroni is to evaluate a company on the short list for an acquisition? This would include an assessment of that company and (the synergy of) its products, and possibly an audit of their books, business plan, etc., etc. (Audit Committee). Would it be smart to state such in the PR? Would you want them to identify the company in question? No, the correct business practice would be to withhold such details until the deal is done.

Now, if this were the case, wouldn't the action of hiring a consultant astute in the field to assist in the the effort be an exact fulfillment of the obligations you cite? And wouldn't the withhold of certain particulars also....

If the above were the case, the hire was a prudent move to assure shareholder value (and the proposed acquisition not a blunder), and not telling enough to isolate the acquisition candidate would also ultimately protect shareholder interests. Would this be a sound business move?

Indefensible, eh?

SGE