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Super-majority amendment is a defensive tactic requiring that a substantial majority, usually 67% and sometimes as much as 90%, of the voting interest of outstanding capital stock to approve a merger. This amendment makes a hostile takeover much more difficult to perform. In most existing cases, however, the supermajority provisions have a ...
A shareholder rights plan, colloquially known as a "poison pill", is a type of defensive tactic used by a corporation's board of directors against a takeover.. In the field of mergers and acquisitions, shareholder rights plans were devised in the early 1980s to prevent takeover bids by limiting a shareholder's right to negotiate a price for the sale of shares directly.
Coventry Health Care Announces Stockholder Approval of Merger Agreement with Aetna BETHESDA, Md.--(BUSINESS WIRE)-- Coventry Health Care, Inc. (NYS: CVH) announced that its stockholders voted at ...
Epoch Holding Corporation Announces Stockholder Approval of Merger Agreement with TD Bank Group NEW YORK--(BUSINESS WIRE)-- Epoch Holding Corporation ("Epoch" or the "Company") (Nasdaq: EPHC), a ...
The proposed merger was approved by shareholders of Hawaiian Airlines in April 2024. The merger was previously approved by the boards of both Alaska Air Group and Hawaiian Holdings, Inc. [ 6 ] [ 7 ] In August 2024, the proposed merger received de-facto approval from the Department of Justice.
K-SwissAnnounces Stockholder Approval of Merger with E.Land WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)-- K•Swiss Inc. (NAS: KSWS) announced that, at a special meeting of stockholders held earlier ...
BMC Software Announces Stockholder Approval of Merger Agreement With Investor Group Reaches Agreement in Principle to Settle Stockholder Litigation With Additional Payment to Stockholders HOUSTON ...
Therefore, when a merger with a controlling stockholder was: 1) negotiated and approved by a special committee of independent directors; and 2) conditioned on an affirmative vote of a majority of the minority stockholders, the business judgment standard of review should presumptively apply, and any plaintiff ought to have to plead ...