TITLE

Proxy Access Rules Create M&A Uncertainty

AUTHOR(S)
MacFadyen, Ken
PUB. DATE
August 2010
SOURCE
Mergers & Acquisitions Report;8/30/2010, Vol. 23 Issue 35, p22
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article examines the impact of the new proxy access measures introduced by the U.S. Securities and Exchange Commission (SEC). While these measures improve the process and reduce costs for shareholders by making it easier for large shareholders of public companies to nominate directors, the dissident directors' ability to initiate mergers and acquisition activity becomes uncertain. SEC Commissioner Mary Schapiro pointed out the lack of clarity over the authority of the SEC to adopt new measures
ACCESSION #
53301055

 

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