RE:RE:RE:Maxim Power CEO Chernoff increases holdings to 34.4%In a situation in which insider shareholders want to take a company private, fair value must be estimated independently and to avoid predatory outcomes of voting, the insider shareholders must get a majority of the non insider ( ie minority ) votes in order to proceed.
So, with Maxim insiders owning , say 80% of the shares, to take Maxim private they would need the majority vote of the minority shareholders holding the 20%.