Calpak Winter Sports Lid. is positioned ideally in the winter business. Located in Whistler, B.C., Calpak is the only company with a distribution network for its imported goods. Calpak's recent success has made the company a prime target for a takeover. Against the wishes of Calpak's board of directors, an investment group from Vancouver is attempting to buy \(51 \%\) of Calpak's outstanding shares. Board members are convinced that the Vancouver investors would sell off the most desirable pieces of the business and leave little of value. At the most recent board meeting, several suggestions were advanced to fight off the hostile takeover bid.

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Suppose you are a significant shareholder of Calpak Winter Sports. Write a short memo to the board to propose an action that would make it difficult for the investor group to take over Calpak. Include in your memo a discussion of the effect your proposed acrion would have on the company's assets, liabilities, and total shareholders' equity.