I wonder if there are any legal ruling on corporate election deadlines. With all the legal requirements for a merger, I...
[typically]
The by-laws provide exactly for the exact last minute you can change a vote, the by-laws also provide for a manner of counting and verifying the vote, the by-laws are a contract between the shareholders and the corporation, the merger agreements provide additional contract requirements. There will be NO contractually requirements on how to solicit votes. Even if CPQ admits that they bought the vote with promised business, which they won't**, I am not so sure that that's not illegal. (note the expert use of the triple negative)
We are not Florida, after all.
**Allow me to expand, CPQ is going to say, we want these people on board and we gave them our personal assurance that we would pay special attention to the loan.
The Banc is going to say, we made the loan because we want to be paid back, no other reason. There is a "chinese wall" between our trust department and our loan department, grasshoppa.
siliconinvestor.com
Hewlett Revocable Trust, and Edwin E. van Bronkhorst as co-trustee of the William R. Hewlett Revocable Trust, today filed a complaint in the Delaware Chancery Court against Hewlett-Packard Company (NYSE: HWP chart, msgs). The complaint raises issues about the process by which Hewlett-Packard solicited votes for the approval of the proposed merger with Compaq Computer Corporation (NYSE: CPQ chart, msgs) -- particularly from large institutional stockholders including Deutsche Bank. |
