	purolator pcc director quits over buyout a purolator courier corp director resigned from the company s board saying he plans to take steps to make or find an offer that tops the mln dlr buyout deal already accepted by purolator s board the company said the director doresy gardner resigned in a march letter to the purolator board which was included in a filing made by the company to the securities and exchange commission gardner noted that the terms of the merger agreement in which the company would bought out by a group of its managers and e f hutton lbo inc bar directors from taking action to solicit initiate or encourage uisition proposals i as a shareholder wish to solicit initiate or encourage such an offer or indication of interest and believe therefore that i should resign as a director of the corporation gardner said in the letter accordingly i hereby resign as a director of purolator courier corp effective immediately he said gardner said he believes shareholders could get a better deal than the buyout offer if the company would agree to be sold to some other entity or if it could sell off all or part of its u s courier division on march another purolator shareholder rodney shields filed a class action suit on behalf of the company s shareholders charging the company and its board with breaching their fiduciary duty by failing to take steps to ensure that shareholders got the highest possible price in the buyout the deal would give shareholders dlrs a share in cash if just pct of purolator s mln shares are tendered if more are tendered they would receive dlrs in cash and six dlrs in debentures and a warrant to buy stock in the new company in exchange for each share reuter 
