Lastly, both car makers need to attract new shareholders to replace the old cross-shareholdings that once tied them into their respective groups.But DaimlerChrysler faces problems that Mr Ghosn never had.
If Disney resists its overture, Comcast could attempt to solicit Disney shareholders to replace the board.
Last week, Mesa Air said that it was starting a hostile bid to take over Atlantic Coast by asking shareholders to replace Atlantic Coast's board.
The dispute became public in September, when Harvard called upon fellow shareholders to replace Templeton Asset Management as the fund's adviser.
The proposals urge companies with a staggered board, which allow shareholders to replace only a few directors each year, to place all board members up for election every year.
He said, however, that the decision by the board to permit individual shareholders to replace windows in their apartments seemed to be an unenforceable attempt by the coop to shift its obligations as a landlord to the tenant-shareholders.
In ousting Mr. Parseghian, "the board has faced up to its responsibility to shareholders to replace someone who was apparently involved with misleading the public," said Robert E. Curry, a lawyer at Kirby McInerney & Squire in New York.
"If, as is common, the proprietary lease makes window maintenance, repair and replacement the obligation of the cooperative, then the cooperative cannot leave it up to individual shareholders to replace their windows," Mr. Shmulewitz said.
The biotech firm experienced a jolt of activity on Tuesday after investors learned the billionaire investor asked shareholders to replace three board members with his own nominees.
Jones, maker of Nine West shoes and Anne Klein apparel, will give up its takeover bid by Sunday if no agreement is reached or if it does not receive enough shareholder votes to replace Maxwell's board, the company said.
