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If an acquirer pays a 20% premium, which is not uncommon, it faces hostile shareholders.
Corporate executives facing down hostile shareholders load their pockets full of numbers.
Hostile shareholders argued that the deal would dilute their holdings, but Mr. Killinger forced it through, saying WaMu desperately needed new capital.
A combative Murdoch faced hostile shareholders at the company's meeting in Los Angeles on Friday and said News Corp was dealing with the situation.
As Mitchells & Butlers gears up for a bruising power struggle with hostile shareholders, here is a list of the main characters in the drama: Joe Lewis - the billionaire investor who owns 22.8% of the firm through his Piedmont investment vehicle.
Bob Dudley, chief executive of BP, will face hostile shareholders on Thursday and, barring an 11th-hour breakthrough, the humiliating prospect of his controversial proposed alliance with Kremlin controlled oil company Rosneft collapsing.
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"The reality is the Ford Motor Company has the best poison pill in the world against a hostile shareholder, and it's called 40percentt voting rights by the Ford family," he said.
Correspondingly, the quantitative analysis revealed a positive relationship between the number of "hostile" shareholder-centric activities in an industry – such as mass layoffs and high levels of income inequality between top executives and average workers – and the emergence of B Corporations in that industry.
The state-dominated gas monopoly Gazprom, a hostile shareholder and creditor, wrested away the core of the Gusinsky conglomerate in a series of boardroom coups -- most important, a takeover of the NTV television network after an 11-day protest by journalists.
In recent years, beleaguered prime ministers, relegation-threatened football managers and CEOs facing hostile shareholder meetings have all complained about the rise of a "get them out" mentality, in which the public expects swift revenge on anyone who offends them, regardless of contracts, electoral mandates or previous performance.
Then there was the problem of a potentially hostile shareholder ready to dump a large stake at any moment.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com