Supermajority

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Related to Super-majority: absolute majority

Supermajority

Provision in a company's charter requiring a majority of, say, 80% of shareholders to approve certain changes, such as a merger.

Supermajority

A percentage of shareholders, usually 67% to 90%. A supermajority is often required for a company to take certain actions, such as amending the charter. Some companies require supermajorities as anti-takeover measures. For example, a company may require two-thirds of shareholders to approve of a merger or acquisition. Supermajority provisions exist primarily to ensure the company's independent survival, but they may limit the board of directors' authority in even a friendly takeover.

supermajority

A specified number of votes greater than a 51 percent simple majority. Some condo association bylaws,corporation bylaws,or neighborhood association rules require a supermajority for certain actions, such as making special assessments or amending the bylaws. The rules for the organization will specify the size of the supermajority, which can be anything from 67 to 95 percent.

References in periodicals archive ?
Decision making at the general meetings of shareholders: What is the quorum, are decisions taken by simple majority or super-majority, any special veto rights?
The real question is; if Republicans use their magic drawing skills and are able to draw a super-majority, for how long can they hold on to those seats?
Second, minority owners can hold up asset sale transactions if a so-called super-majority provision exists in your
The bill is likely to be passed by far more than the two-thirds super-majority needed in the parliament because it has been drafted by a parliamentary committee made up of all political groups.
His statements come at a time when the president's health care reform bill is stalled in Congress because the Senate lost its super-majority when Massachusetts elected Republican Scott Brown last week.
Voters in the US state of Massachusetts are set to elect a new senator in a vote that could end the Democrats' super-majority in the Senate and scuttle their healthcare reform plans.
Although Democrats will control at least 58 Senate seats in the next Congress (two are still undecided), they could need Lieberman to reach the super-majority of 60 necessary to end a filibuster.
Was it not a super-majority of the council that ignored the city attorney and put Proposition R on the ballot?
The current super-majority approval of 60 percent is unfair to schools, as parks and jails only need a simple majority to pass.
Once raised, it would require a super-majority of 60 Senators to pass the amendment instead of the usual 51.
In these pronouncements, the S shareholder issued nonvoting common stock and warrants to acquire a super-majority ownership of nonvoting common.
At the same time, it would promote the proper incentives by allowing countries which did more to prevent crises to pay less for their IMF borrowing, and by permitting very large loans only after a super-majority of creditor countries had determined that the situation did indeed represent a systemic crisis.