Ascend Communications (ASND) Message Board

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Technology Stocks : Ascend Communications (ASND)

ASND 207.04

+0.7%

3:59 PM EST

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To: geokos who wrote (26598)	12/6/1997 2:43:00 AM
From: Sowbug	of 61433

<<I am not sure of this but is it not true that if an offer is received for the company by management it has to be made public to all investors, otherwise there is not full dissemination of information.>> Probably not. There are very few events in a corporation's existence that require shareholder votes -- usually the board of directors is empowered to handle day-to-day affairs, and RECEIVING such an offer (especially if the directors think it can reasonably be turned down) is closer to day-to-day affairs than to the extraordinary events that require SH approval (e.g., dissolution of corporation; electing officers/directors; ACCEPTING an offer). So if no vote's required, then it falls into the fuzzy area of disclosing pertinent information -- clearly no black & white rule there. Sowbug, Esq. (been a while since I studied corporate law; insert disclaimer here)

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