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Sumitomo Mitsui said in a statement that it thought a merger with UFJ was "the best choice for both groups' shareholders, customers and employees".
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As a group, shareholders were paid about $200 billion more than their companies earned over that four-year period.
He dealt with that danger by first shifting much of his personal debt onto his casinos, then onto a new group: shareholders.
It's for your own good, explains campaign group Shareholders United, helpfully.
Supporters' group Shareholders United were one of the most vociferous anti-Glazer voices during the takeover, and in the aftermath.
Not many avenues of protest left now for campaign group Shareholders United, which has urged supporters to boycott club merchandise and the products of sponsors, such as Vodafone, Nike, Anheuser-Busch, PepsiCo and Audi, if the deal goes through as expected today.
Ms. Fine added, however, that balancing the needs of two groups of shareholders can be tricky.
Now you've got two groups of shareholders whose interests are disparate".
The wireless group spinoff leaves AT&T having to please two distinct groups of shareholders, a possible source of growth-stunting conflict.
In addition, corporate governance groups urged shareholders to vote against the company's executive compensation proposals and some of the directors.
"Being transparent about our involvement in these groups provides shareholders and customers insights about how our policy work aligns with our business goals".
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com