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Skadden Discusses Increasing Shareholder Activism in Europe

Reynolds Holding

These mechanisms are typically less aggressive than the “poison pill” tools that many U.S. A majority of companies responding (40%) said they have recently added, or enhanced, their corporate defense mechanisms or plan to (20%) “in the near future.”

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The Duality of Corporate Purpose

Reynolds Holding

Finally, we reflect on this duality and argue that while both sides are commonly understood ways of thinking about the topic, they operate in tension with each other. Moreover, although management retains the power to specify the firm’s purpose as an initial matter, shareholders can play a role in forcing change.

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December 15, 2019 to December 14, 2022: Three Years of Walking

Chris Mercer

ChrisMercer.net is a blog where I talk primarily about things related one way or another to business valuation, but I also venture into personal topics from time to time. Walking has been one of those topics. Three years ago, on December 15, 2019, I began a journey and did not know where it would lead. Three years is 1096 days.

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Activist Shareholders in Corporate Governance: Lessons from Australia

Reynolds Holding

In my recently published book, I examine the topic from an Australian perspective. When exercising their governance rights, Australian shareholders do not face the complications that confront activist shareholders in the United States, such as proxy solicitation and filing regulation, proxy access challenges, and poison pills.

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Cleary Gottlieb Discusses How Companies Can Meet Fiduciary Duties When Speaking on Public Issues

Reynolds Holding

A company’s standing in the surrounding communities can be equally important to consider, as can its reputation among politicians and regulators at the local, state and national levels. Newmark , 16 A.3d This post comes to us from Cleary Gottlieb Steen & Hamilton LLP.

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The Letter of Intent in a Business Sale: 7 Seller FAQs

IBG Business

Be on the lookout for “poison pills” that some buyers might try to sneak past an unwary seller. Prior to that point, only the major topics have been outlined and discussed. Also, while the majority of LOI’s have some provisions that are non-binding (e.g., What should a seller look (and look out) for?

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SEC Commissioner Peirce Declines to Support Final Rules on Beneficial Ownership

Reynolds Holding

The adopting release also addresses these topics, albeit more practically than did the proposing release. Further, the advent of the poison pill effected a seismic shift in the balance of power between corporations and shareholders seeking to acquire large blocks of securities, as the Proposing Release recognizes. [U]sing