In two recent cases here, shareholders have spurned company-backed takeover offers. In another, they agreed to sell a company against its board's wishes. And in a purer example of so-called shareholder activism, hedge fund Jana Partners LLC built a stake in TNT NV and now plans to push for major changes at the big Dutch mail company. Earlier this month, public investors in Dragon Oil PLC voted down an offer for their shares from an Arab suitor, even though the ...
Full Article at The Wall Street Journal
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