Friday, April 07, 2006

News Corp. Caves to Shareholders

News Corp. agreed to put its takeover-defense plan to a shareholder vote at its next annual meeting, reports the WSJ. This averts a trial scheduled in Delaware Chancery Court for later this month. Shareholders sued the media giant alleging that it broke its promise to seek shareholder approval if it kept its so-called poison pill in place from more than one year.

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