TIME WARNER DIGS IN: Board Removes Ability For Shareholders To Force Vote On Fox Offer

[applegrove]

TIME WARNER DIGS IN: Board Removes Ability For Shareholders To Force Vote On Fox Offer


by Henry Blodget at Business Insider

http://www.businessinsider.com/time-warner-board-changes-bylaws-on-fox-offer-2014-7

"SNIP..........................


Time Warner's board just changed the company's bylaws to prevent a small group of shareholders from forcing a vote on Fox's offer for the company.

The new amendment, which is effective immediately, removed a standard provision that allows 15% of a company's shareholders to vote to call a "special meeting," in this case one that could have been devoted to evaluating the Fox offer.

As a result, Time Warner's shareholders have no ability to force a vote on the deal until the company's annual meeting next summer. Prior to the amendment, 15% of Time Warner's shareholders could have forced a meeting as soon as February.

The removal of this provision removes the final stick that Murdoch could have used to force a relatively quick consideration of his offer.



...........................SNIP"

[samsingh]

1. good. good. good.

[conservaphobe]

2. Sometimes shady business practices aren't so bad.

Fuck Murdoch.

[Dawson Leery]

3. This is for the better.

Time Warner needs to use everything they have to stop Murdoch.

[onecaliberal]

4. Very good

[Uncle Joe]

6. This is about buying more time.

Thanks for the thread, applegrove.

[freshwest]

7. Okay by me.

[Cha]

8. So this sounds like a good thing.. bless their hearts.

[Hekate]

9. Good

Murdoch wants to own it all -- he's a dangerous man.