"Given that they received less than 1 percent shareholder support for their bid, it is perplexing, to say the least, how Sanofi could simply renew their offer without changes," Brad J. Loncar, a Genzyme shareholder based in Lenexa, Kansas, said in an e-mail message.
In the case of dormant entities like the Heriot fund, the Cayman court said that liquidation was justified because "it has become impractical, if not actually impossible, to carry on its investment business in accordance with the reasonable expectations of its participating shareholders, based upon the representations contained in its offering document".
Dabhol and its main shareholder, Enron Corp ,based in Texas, were accused of bribing Indian officials in order to get the project approved, and of tolerating police brutality to get it built, charges Enron says were dismissed by the courts.
Earlier this month, Governance for Owners, an investment firm and shareholder advocate based in London, and Tokio Marine Asset Management of Japan said they would jointly start a fund that would invest 100 billion yen ($1.2 billion) in underperforming small- to mid-cap Japanese companies and take an activist role.
Shareholders of Golden State, based in San Francisco, voted 87.4percentt in favor of the purchase.
The founding shareholders of Teklogix, based in Mississauga, Ontario, will tender their 27percentt holding to Psion.
Shareholders of Wheaton River, based in Vancouver, are scheduled to vote on the Iamgold proposal on July 6.
Under the terms of the deal, shareholders in Cymer, based in San Diego, will receive $20 and 1.15 ASML shares for each Cymer share.
The shareholders of 3Com, based in Santa Clara, Calif., will receive 1.484 shares of Palm stock for each share of 3Com stock.
