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A close working alliance of two companies that are owned by separate shareholders could prove a nightmare in practice.
However, there will be an important and difficult difference in Argyle's case: the two entities have separate shareholders.
The British Airways spokeswoman said that the two airlines, which have been cooperating since 1995, were aiming for "a complete and permanent merger" which would result in a dual-listed structure with separate shareholders but a combined balance sheet.
So Sinopec agreed that all "major" decisions (a new share issue, say) would have to be submitted to two separate shareholders' votes one at a general meeting, where the state would get its way, and one at a meeting for overseas shareholders only.The bank also pressed for a board with independent directors, which at first was a non-starter for the Communists both at Sinopec and in the government.
Similar(56)
And it wants a separate shareholder vote on a new contract for Mr. Smith.
Over the next few years, Goodwin and about a dozen other Rockefellers launched three separate shareholder resolutions pressing Exxon to recognise climate change and invest in renewable energy.
He has initiated a legal effort to force Apple to break the package into three separate shareholder votes, claiming federal rules governing public companies require this.
A separate shareholder lawsuit in Delaware Chancery Court was put on hold in April, with the judge in that case citing the parallel litigation in New York.
Travelocity.com said it is the subject of 11 separate shareholder lawsuits to block a tender offer by Sabre Holdings, which seeks the 30% of the online travel firm it does not already own.
A separate shareholder lawsuit filed against WWW Casinos accused Michaels of siphoning off funds to pay for at least five cars, a $125,000 racing boat and gambling trips in Nevada.
In addition to the civil suits, Sotheby's faces separate suits from shareholders.
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