Aetna shareholders reject dissident board nominee. (Companies).Shareholders of Aetna Inc. rejected the dissident nominee for director proposed by Providence Investors LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control and informally voted whether to throw out the company's "poison pill A defensive strategy based on issuing special stock that is used to deter aggressors in corporate takeover attempts. The poison pill is a defensive strategy used against corporate takeovers. ." Final results of the voting won't be available for several weeks, said John W Rowe, Aetna's chairman, president and chief executive officer, in a Webcast of the meeting. But Rowe said it was clear the shareholders had rejected Providence's nomination of Lawrence G. Schafran. Providence said in a proxy statement Proxy Statement A document containing the information that a company is required by the SEC to provide to shareholders so they can make informed decisions about matters that will be brought up at an annual stockholder meeting. that the poison pill would delay the consideration of a shareholder proposal and discourage shareholders from communicating, for fear they would trigger the "poison pill" and have a portion of their stock confiscated con·fis·cate tr.v. con·fis·cat·ed, con·fis·cat·ing, con·fis·cates 1. To seize (private property) for the public treasury. 2. To seize by or as if by authority. See Synonyms at appropriate. adj. . Aetna said previously that the measure is to protect shareholders from abusive takeover practices. |
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