Does TBS have the shareholder votes necessary to put in anti-takeover defenses?
June 19, 2007
By Ken Worsley
From this morning’s Nikkei:
Tokyo Broadcasting System Inc. appears to have mustered the more than 50% of the voting rights needed to ensure the approval of its proposed anti-takeover measures at its June 28 general shareholders meeting.
This would be bad news, but hardly surprising. The Nikkei published two articles yesterday detailing what’s bad about the anti-takeover measures that have been approved at many companies as of late, and how they may ultimately damage “international confidence” in Japan’s capital markets.
What international confidence?
Filed Under M&A
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This is a seriously tangled mess. They don’t want internet players anywhere near broadcast TV and their advertising yen. They’re going to pull every string they can to keep the future from happening in Japan.
Did you see that You Tube is launching a Japanese version?
http://www.bloomberg.com/apps/news?pid=20601086&sid=aJabhieMeERY