*Greenmail and other lessons we need to learn from this messy Otedola vs. Elumelu fight*
Two weeks ago, Nigerians woke up to the news that billionaire investor Femi Otedola had acquired 5% of a conglomerate belonging to his brother and friend Tony Eluemelu.
It was an intriguing corporate drama that shocked, rocked, and rolled Nigeria’s capital markets.
Transcorp as a business initially denied it, and the reason is not far-fetched.
They did not see that chess move coming.
Even their chairman, Tony, was caught napping as he woke up to the news, just like many of us did.
The drama got the attention of the two business tycoons’ mutual friends, who pleaded and intervened before a compromise was reached yesterday.
One of the terms of the compromise was Otedola exiting Transcorp and selling his shares back to his brother Tony at a premium, x6 of the market price.
It was said that Femi pocketed 32 billion naira, which will be paid installmentally from the deal.
I think it is important that