Comcast Corp.’s independent shareholders rejected the recommendation of the company’s management and approved a non-binding resolution that seeks to dismantle the company’s poison-pill takeover defense,
the
Philadelphia Inquirer
reported.
Chairman and CEO Brian Roberts controls 33.3% of the votes through a super-voting class of stock. Observers were surprised that this was not sufficient to defeat the resolution, the
Inquirer
report noted.
Comcast’s takeover defense expires in November, the article said. A company spokesman said Comcast’s board would take the shareholder vote into consideration when deliberating whether to renew the plan. Comcast enacted its plan in 2002 when it acquired AT&T’s broadband division, the
Inquirer
article said. (Source:
Philadelphia Inquirer,
June 5, 2012.)
-
719 reads