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Rumours of skulduggery that certain shareholders had been promised a premium for their shares if they voted for the incumbent directors—swirled.
But nearly five years later, with the perspective of the financial crisis, Mr. Lipton's underlying worry that certain shareholders will abuse the powers of democracy is not unfounded.
"This is irrespective of whether certain shareholders cannot afford the assessment or do not get a direct benefit from the renovations," Mr. Sherman said.
Montgomery said that he still has the "complete confidence" of the Mecom board but had nevertheless decided to stand down "following pressure from certain shareholders".
The statement added: "Nevertheless, following pressure from certain shareholders, he has decided to leave at the time of the group's pre-close trading statement next January".
Edison, based in New York, said that it would issue 2.75 million Class A common shares and that certain shareholders would sell 2.75 million existing shares.
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DealBook » Dell Founder Raises Takeover Bid, With Conditions | Michael S. Dell offered a small increase in price in exchange for a more certain shareholder vote.
The founder of Dell sought on Wednesday to negotiate a surer path to victory for his takeover effort, offering a small increase in price in exchange for a more certain shareholder vote.
The Placing is conditional upon, amongst other things, certain shareholder resolutions being passed by the requisite majority at a general meeting of Bango to be held at to be held at Bango's registered office at 5 Westbrook Centre, Milton Road, Cambridge CB4 1YG at 2.00 p.m. on 25 February 2013 (the "General Meeting").
The divestment campaign served to benefit certain unethical shareholders while failing to alter the price of the stock.
It is not certain that shareholders, who would have to vote on any changes, would be open to a lower offer.
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