Hilton shareholders reject 'Pills'.Beverly Hills-based Hilton Hotels
The poison pill is a defensive strategy used against corporate takeovers. " plan that makes it more difficult for an entity to acquire large blocks of stock. The proposal calls for the hotel chain's by-laws to be amended to prohibit any stockholder rights plan, generally used to reduce the potential for unfriendly takeovers unfriendly takeover The acquisition of a firm despite resistance by the target firm's management and board of directors. Also called hostile takeover. Compare friendly takeover. See also killer bee, raider. , unless the plan was first approved by a majority of shareholders. Hilton said its board, which had urged shareholders to reject the measure, will meet to consider appropriate action. A second shareholder proposal calling on the board to make the election of directors a majority rather than plurality The opinion of an appellate court in which more justices join than in any concurring opinion. The excess of votes cast for one candidate over those votes cast for any other candidate. Appellate panels are made up of three or more justices. vote was defeated. receiving only 48 percent of votes cast. |
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