Goodbye Takeovers, Hello Takeunders

Rewind the clock back to March 2000. Do you remember BroadVision (BVSN), that high-flying e-commerce software company that traded at a split-adjusted $840 a share? Maybe you even owned the stock back then. Well, let’s hope you don’t own it anymore.

In one of the worst examples ever seen of acting in the interest of shareholders, BroadVision agreed Tuesday to be acquired by a private equity firm for 84 cents per share. Nevermind that is 99.9 percent below the stock’s all-time high. It’s 36 percent below the $1.32 the stock was trading at on Monday!