The priority shares may be considered to constitute a form of
anti-takeover measure," AkzoNobel explained in its latest annual report.
The Rights Plan is not meant to be an
anti-takeover measure, and the Windstream Board of Directors has established a procedure to consider requests to exempt acquisition of Windstream common stock from the Rights Plan if it determines that doing so would not limit or impair the availability of the NOLS.
The amendment to the Rights Plan was not adopted primarily as an
anti-takeover measure.
The degree to which any
anti-takeover measure may promote or diminish shareholder value depends on circumstances specific to the individual company.
Another obstacle lies in an
anti-takeover measure - or "poison pill" - that allows TNT to issue preference shares to a friendly foundation in case of a hostile bid.
After Tyson Foods made an unsolicited offer for the poultry processor early in the year, WLR officials dug in, swallowing a poison pill and enacting the state's stringent
anti-takeover measure.
Another called for shareholder voting by secret ballot, and the third would have put to a shareholder vote the so-called "poison pill"
anti-takeover measure that the Tribune Co.
As seen in the figure on pages 50 and 51, credit statistics and the stub performance of previous recaps help illustrate the potential rewards and risks inherent in the
anti-takeover measure.
The Rights Plan was not adopted as an
anti-takeover measure and once the deferred tax assets have been substantially realized, the Board of Directors intends to terminate the Rights Plan.
Sapporo President Takao Murakami declined to comment on the possibility of whether the brewery would implement an
anti-takeover measure if Steel Partners launches a hostile tender offer.
The Act is generally viewed as an
anti-takeover measure that imposes costs and other obstacles on a potential bidder for a company, and may thereby deprive shareholders of opportunities to realize takeover premiums for their shares.
We believe that this
anti-takeover measure will materially harm the Company's value and question why the Board is using Company assets - that could otherwise be used for the Company's growth - to oppose a bid by a supportive, long-term shareholder to acquire more shares in the Company.
