It is amazing that shareholders continue to allow a minority shareholder to dictate what they can and cannot vote on, even if that minority shareholder is called Murdoch.
Onésimo Alvarez-Moro
See article:
Company Agrees to Put Proposed Extension of Pill Defense to Shareholder Vote at Annual Meeting in October
Three weeks before a scheduled trial was to have begun in Delaware Chancery Court, a group of international institutional investors has settled its lawsuit against News Corporation over the company's extension of an anti-takeover poison pill provision.
As part of the settlement, News Corp. has agreed to put forth a special proposal at its annual meeting this October, allowing shareholders to vote on whether to extend the poison pill for two years. This concession by News Corp will give its shareholders the voting rights they sought to enforce in the litigation. The proposal would also allow News Corp to extend the pill for one additional year (until October 2009), but only if necessary to address concerns over possible moves by Liberty Media in acquiring a controlling interest in News Corp.
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