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Not SEC regulations, but Delaware corporate law rules. I don't remember all the details because law school was too long ago. Something to do with the Revlon doc
by bradleyjg 9y ago
Not SEC regulations, but Delaware corporate law rules. I don't remember all the details because law school was too long ago. Something to do with the Revlon doctrine, probably.
- SilasX 9y agoBased on my skimming, Revlon is about directors' obligation to go for a high buyout price in sinking-ship conditions, rather then dig in their heels and poison-pill. The GP's point was about being able to buy control from buying only a tiny sliver of the shares, AIUI. Edit: Or your point is that the share A class is the poison pill? I'm in over my head here...