The manager of the Waterside Theatre company, Iain Barr, points to delays in a firm letter of offer to fund two proposed arts projects.

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JamesCorneliusJames Cornelius, Bristol-Myers' chairman, did extend a hand of friendship at the end of the letter, offering to continue negotiations concerning its current offer.

FORBES: Magazine Article

The proposal contained in this letter constitutes an indication of our interest in pursuing a transaction and does not constitute a binding offer, agreement or agreement to proceed with the transaction or to otherwise make a binding offer or agreement at any point in the future.

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At a minimum, pre-planning and careful drafting of program language or the intern offer-letter would be crucial.

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"Southeastern has been working hard to secure a better outcome for our clients through a superior offer or a rejection of the current bid, " the investment firm wrote in an April letter to its clients.

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That drew the ire of hedge fund manager Keith Meister, who sent a harshly-worded letter Tuesday demanding the board cease the offer, and decrying management incentives that do not mesh with the creation of shareholder value.

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