My mother works for Arthur S. in a non related capacity. I get to hear the dirt going way back.
1.) Arthur T has been screwing the remaining shareholders for the past 25+ years, through back door deals and cooking the books. He held on to a sister-in-law's votes and kept control but when she found out he was renting stores back from his brother-in-law she'd had enough.
2.) 4 years ago Arthur S. tried to sell his shares but was blocked by the board (controlled by his cousin) from doing so. He's wanted out ever since it was clear he wasn't wanted to help run the business. The rationale from Arthur T was "why should I pay for what I already own?" He figured why not let his cousin twist in the wind? Big mistake.
3.) Arthur T has been planning this for over a year: "He's using the sheep to do his dirty work for him and they're too stupid to see..."
4.) They have 8 standing offers for the chain.
5.) Arthur S is a saint. He feels real bad for people. You know, those people. People who work for him. People he gives jobs.
I could go on, but here's all you need to know about the real issue:
There's nothing more embarrassing than a billionaire who is forced to live like a multi-millionaire.
My interests are selfish. I want my supermarket back. They're significantly cheaper, I like their products, and without a doubt they're a better run business. No self-checkout blackmail. As far as the workers go I wish them luck and are rooting for Arthur T. He may be a snake on one side of the isle but that kind of loyalty is no smoke screen. If you can get a 18yr old kid to put down the phone and hold a sign in the rain, there's something there.
If they sell to another supermarket chain all the good stuff like higher wages, profit sharing, shift differential for Sundays/Holidays, and better health care will be GONE! How could another chain justify paying more at a different chain? They won't. That's what makes it such an attractive item. Plenty of costs to squeeze out. Higher prices, lower wages, and everybody's happy, right?