Shareholders shunning tough shark repellant as SEC fights unfair deals
Article Abstract:
The Securities and Exchange Commission (SEC) was recently involved in a lawsuit regarding a takeover attempt that cut individual shareholders out of the deal. This action indicates that the SEC is taking a stand against unfair takeovers. The SEC also surveyed 649 companies that have adopted anti-takeover measures. The most popular measures were fair-price amendments to corporate by laws, requiring that suitors pay the same price to all shareholders, and that more than a simple majority of shareholders is needed to approve a tender offer. In addition, a pending SEC rule would require companies targeted for takeovers to make the same buy-back offer to all shareholders.
Publication Name: Cashflow Magazine
Subject: Business
ISSN: 0196-6227
Year: 1986
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State Hutton settlements carry prospect of more cash management reviews
Article Abstract:
State securities offices are reaching settlements with E.F. Hutton over its illegal cash management practices, requiring Hutton to use in-state banks for its customer accounts in certain states. These settlements could prompt reviews of other companies' cash management policies as well. Some securities firms have negotiated agreements with banks nationwide, so that customers may obtain immediate credit, even when checks are issued in another state. Customer sensitivity to cash management practices may result in competition by companies to provide the fastest credit to their customers.
Publication Name: Cashflow Magazine
Subject: Business
ISSN: 0196-6227
Year: 1986
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IRS ruling paves way for tax-free commercial paper deals overseas
Article Abstract:
A recent private letter ruling by the Internal Revenue Service established certain conditions under which a parent corporation did not have to pay taxes on the commercial paper interest paid to its overseas subsidiary. It is expected that the ruling will encourage companies with foreign subsidiaries to sell commercial paper to those subsidiaries. Advantages of transactions performed under the ruling include the ability of a parent to borrow less expensively from a foreign subsidiary and increased financing flexibility.
Publication Name: Cashflow Magazine
Subject: Business
ISSN: 0196-6227
Year: 1986
User Contributions:
Comment about this article or add new information about this topic:
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