in 2005 the board of directors of the targeted company tried to issue massive warrants to Fuji TV without their shareholders' consent in order to foil the takeover attempt
. Furthermore when Oji Paper Co.
Andreozzi, whose one-man consulting business works with ValueAct, was to be Acxiom's new CEO had ValueAct been successful in its takeover attempt
, launched more than a year ago.
Although he was thwarted in his prior takeover attempts
, Cohee still has not lost his appetite for Carver and hasn't ruled out the possibility of making a future run at the bank In the meantime, he and Wright are trying to expand their respective empires.
There has never been a successful hostile takeover here, and most market observers would say that there has only been one truly hostile takeover attempt
in recent years: the offer by M & A Consulting to acquire Shoei in 2000.
In 2003 Merck's board opposed a resolution by shareholders to end the staggered system, which was adopted by the company in 1985 to help thwart the potential of hostile takeover attempts
The state - which holds a 33.8% stake in the operator - favours the restriction as it minimises the risk of unwanted takeover attempts
The drop has made it susceptible to possible takeover attempts
. Analysts are already linking it with US rival Cisco.
Unwanted takeover attempts
at Del Webb and Willamette could be forerunner of things to come.
The issuance of new shares could also be used to fend off hostile takeover attempts
, the company said.
There were four provisions to the Pennsylvania law, the first two of which were designed to clamp down on corporate raiders by limiting the voting rights of any shareholder who acquired company holdings of 20 percent or more, and by fore ing corporate raiders to surrender short term profits (or "green mail") realized from unsuccessful hostile takeover attempts
. The business press attacked these provisions as "welfare" for corporate managers, saying they would "entrench inept management at lazy local companies" (Forbes), invite "economic inefficiencies that could undermine competitiveness" (Business Week), and other such capitalist nightmares.
Furthermore, assigning expenses to particular takeover attempts
involves issues for which there is scant guidance.
Therefore, the origin of the expenses is traceable to X's board of directors' fulfillment of its fiduciary duties to defend against inadequate takeover attempts