At Nissin Food, the fund has already amassed a stake of nearly 20 percent, a line above which Nissin's anti-takeover defense
scheme would allow it to issue equity warrants to dilute the fund's stake.
the media conglomerate controlled by Rupert Murdoch, has reached a settlement with a group of shareholders who sued the company over its handling of a ``poison pill'' anti-takeover defense
Although proxy contests (also called proxy battles, fights, and wars) were infrequently used as a means of gaining control of publicly traded corporations or of influencing management policy decisions during the 1980s, recent changes in the United States business environment -- the limited availability of financing for corporate takeovers, the collapse of the junk bond market, the passage of anti-takeover statutes in 40 states and proliferation of anti-takeover defense
tactics, and the active role institutional investors are now taking in the governance of American corporations -- the proxy contest has now become a very important and leading tool in battles for corporate influence and control.
Judge William Duffy struck down management's "poison pill" anti-takeover defense
plan which would have greatly leveraged its Burger King unit in order to finance a special dividend for stockholders.
s anti-takeover defense
was approved Thursday at its general shareholders meeting, brushing aside opposition from its biggest shareholder, U.
based Big B, with almost 400 drug stores in five states, then approved a poison pill anti-takeover defense
s anti-takeover defense
was approved Thursday at its general shareholders meeting by a hairbreadth margin, brushing aside opposition from its biggest shareholder, U.
Liberation commented, "Bally's attempted use of its 'poison pill' - an anti-takeover defense
- as a club to beat down shareholders intent on engaging in a legitimate expression of shareholder democracy is brazen and unprecedented.
In addition to the election of Trustees, over 98 percent of the shares voted at the meeting were cast in favor of the Company's recommendation to amend Equity Residential's Declaration of Trust to remove a potential anti-takeover defense
and over 97 percent of the shares voted at the meeting were cast to ratify the selection of Ernst & Young LLP as the Company's independent auditors for 2004.
This approach to disclosure is typical for Mylan, whose own shareholders are suing the Company for not properly disclosing its draconian anti-takeover defenses
when it sought a vote for its prior inversion transaction.
Two other popular anti-takeover defenses
of the 1980s were the formation of Employee Stock Ownership Plans or ESOPs, which dilute shareholder equity and make it more difficult for a potential acquirer to purchase a controlling interest in the target company, and litigation, which is usually the first line of defense of the intended target.
PeopleSoft claims these men are hired guns, nominated merely to do Oracle's bidding on the board, to remove "poison pill" anti-takeover defenses
for example, without regard for the interests of shareholders.