When faced with the mystery buyers as laid out in the end of the case, Eberhart has a tough decision to make. I think that the whole decision really boils down to the results of the investor certification. If it is that the buyers are legitimate and have the time and resources to give the company the attention that it needs - continuing its pursuit of efficient operations and overcoming recent struggles to handle larger account - than yes indeed he should sell. He has already transitioned away from being CEO in order to spend more time with his family in California, and this decision would strengthen that initiative. Also, as mentioned in the case, this would be a strong sign of support for the new CEO and his vision to continue the companies growth. The potential downside is if the buyers turn out to be a bad fit - which given the specificity of the business, is a real possibility. Given the shady business practices laid out in the case about threats and pranks in Japanese business, there is a chance that this offer is a fake and could somehow lead to the downfall of the company. Either by a competitor posing as a buyer in order to tank the business or by learning important details in diligence and using them to their advantage. Additionally on the side of not selling is the recent growth shown by the company and what it signals for the future. Khoo has only been CEO for about 2 years, which is not a long amount of time to give him to demonstrate his ability to overcome hurdles and grow the business under current board leadership. A change in majority stake might also come with a change of CEO or direction for the company. I would say overall that they should sell, pending the results of the investor certification come up without any major red flags.
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