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And political ones: the ECB cannot sustain huge intervention if Germany, its main shareholder, objects.
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Some shareholders objected and went to court, unsuccessfully, to stop the deal.
In the next few days, the share price plunged 37%.No shareholders objected to the sell-off in principle.
Northern Rock shareholders objecting to Virgin's deal threw their support behind a rival bid being mooted by Olivant, a private-equity firm.
The two companies had struck an alliance and investment agreement a year ago, but that pact was overturned after a group of Humpty Dumpty shareholders objected that the terms of the transaction were unfair to minority shareholders.
The decision by A.I.G.'s board to move beyond Prudential, leaving little room for talks to resume, came after weeks of negotiations as Prudential's shareholders objected to the original $35.5 billion price.
Shareholders objected to a payment of £5m in deferred shares for masterminding a takeover of Germany's Mannesmann, plus £5m in cash as compensation for "low pay".Shareholders in British Airways also forced a review of a £2m ($3m) payment to its former chief executive, Bob Ayling, as compensation for being sacked.
Some shareholders objected.
Many minority shareholders object to the deal because little of Fortis will be left after the better assets are sold, said Tai Fook Research analyst Paul Lee. "There's a possibility that they might be able to recover a bit more eventually from Fortis," whereas the current deal means that a substantial loss is realized.
But the meeting was suddenly postponed on Tuesday because the company's largest outside shareholder, Ronald Baron, objected to the continuing Taubman influence.
Elsewhere, shareholders might object to the low returns that are the result of uncompetitive bids.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com