75 per share on Wednesday, up 10 cents, as a shareholder vote
on the acquisition wais rescheduled yet again, reports the (http://dealbook.
WASHINGTON, April 30 /PRNewswire/ -- The following is a statement from the CtW Investment Group executive director William Patterson regarding the results of the shareholder vote
at yesterday's Bank of America annual meeting.
Global Banking News-2 April 2009-Fortis delays shareholder vote
on BNP deal(C)2009 ENPublishing - http://www.
A Quebec court approved the shareholder vote
in late August.
Last week, the company announced that it would postpone the shareholder vote
on the merger until January 28th to allow more time to cement support for the merger vote.
The SEC requires that the results of the shareholder vote
be reported in the 10-Q following the vote.
A court in the US threw out Lord Black's motion to hold up the transaction so that it could be subjected to a shareholder vote
, clearing the way for the sale to proceed.
He maintained during his speech that the outcome of last week's shareholder vote
on HP's plan to merge with Compaq is still unknown, even though HP Chief Executive Officer Carly Fiorina has declared victory.
Observation: This ruling is restrictive because it adds to revenue ruling 75-406 (which places heavy emphasis on the shareholder vote
factor) the prohibition on pre-spinoff negotiations.
Transactions presumed not to restrict, nullify, or disparately reduce voting rights would include: (1) issuance of securities in an initial public offering; (2) issuance of securities in a public offering with voting rights not greater than those of any outstanding class of the issuer's common stock; and (3) issuance of securities approved by shareholder vote
pursuant to a proxy statement in a merger, acquisition, or a stock dividend transaction in which the voting rights of the securities would not be greater than those of any outstanding class of the issuer's common stock.
A total of 142 respondents said that they published the results of their annual shareholders meeting in some form after the meeting, with 30% posting the shareholder vote
results in English on their corporate websites.
PK) announces the results of its shareholder vote
taken in conjunction with its Annual Meeting on March 14, 2008, for shareholders of record as of January 23, 2008.