tHIS ruling says deductibility of takeover-related professional fees does not turn on whether the takeover attempt
is friendly or hostile.
Despite the obvious importance of the issue, the deductibility of costs incurred by a target in response to a takeover attempt
was only recently addressed by a court.
Second, the corporate law of Delaware and other states clearly favors defensive strategies that are implemented well in advance of a hostile takeover attempt
Kengo Nishiyama, strategist at Nomura's Financial & Economic Research Center, said the steel industry is experiencing global realignment, while there had been a takeover attempt
by the Murakami Fund for Hanshin Electric Railway Co.
Analysts said Friday the company was smart to have a protection plan in place, but that a takeover attempt
is not likely in the near future.
Having lived through hostile takeover attempts
before -- and having paid nearly all the Company's expenses since 1984 despite never having taken a salary throughout the entire 20 years -- Furlong is not willing to put current and future shareholders at risk.
Siegel further noted that, "the Board believes that it can achieve its objective to protect stockholders against unfair takeover attempts
through other means such as through the adoption of a stockholder rights plan, which the Board currently plans to implement if stockholders vote to approve the proposal.
Other principal motivations behind M&A activity include realizing operational synergies, sharing risks and skills, countering takeover attempts
, and tapping into emerging consumer markets.
Borland believes that coercive and unfair takeover attempts
continue to present risks to both short-term and long-term stockholder interests and, accordingly, are not in the best interests of Borland and its stockholders.
This press release contains forward-looking statements, including statements regarding unsolicited offers or takeover attempts
While there has been no known effort to acquire control of ILEX Oncology, the Shareholder Rights Plan protects the company against takeover attempts
that could jeopardize the interests of our shareholders by encouraging potential buyers to negotiate directly with the Board of Directors," said Richard L.
The board of directors of Sequa Corporation (NYSE: SQAA) has adopted a shareholder rights plan intended to protect shareholders from coercive or unfair takeover attempts