RE: RE: RE: RE: My oh My Some P pills have a 60% plus figure that gives a board some term of security for the purpose of assuring the interests of ALL, not just a Few shareholders in the event bof a hostile takeover attempt.
Example- Company Widget has 250 shareholders with a priciple single shareholder owning 35% of the shares.This priciple now convinces 2 other sharholders with a combined 16% to take control of the company and sell off its assets at a subsantaitial loss to the company as a whole,under the guise of reorganization.
P Pill covers the board buy virtue of the minimum holdings rule as they still have control over that decision and can quash it in the interests of the whole.
In the end any aggresive suitor or cadre of investors must control the board or go with the flow so to speak.
To wit-51% in this case would not sufficient to declare control.
However I don't believe that applies in SLI.s case.