Over 1/2 or 2/3 majority???? Input here from the board please
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Mosaic ImmunoEngineering is a nanotechnology-based immunotherapy company developing therapeutics and vaccines to positively impact the lives of patients and their families.
Message: Over 1/2 or 2/3 majority???? Input here from the board please
May 10, 2007 08:08PM
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I still don't know the answer. However, I follow CCU Clear Channel Communcations and they have been trying to take the company private. They are Inc. in the state of Texas and Texas law requires a 2/3 majority for this type of take over. Where is PTSC Inc.? What is the law in that state? I wouldn't be satisfied with a $2.00 buy out offer.
nder Texas law, where the company is incorporated, two-thirds of shareholders must approve the deal for it to go through. Shareholders who don't submit votes are counted as voting against the deal.
Texas law also mandates that there needs to be at least 10 days between the record date and the vote date. Sources close to the deal said Clear Channel is sticking to the current vote date for now and called any idea about delaying the vote "speculation."
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May 13, 2007 09:23AM
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