Word: greenmailed
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...manipulation of public markets. Rohatyn also thinks that offers to acquire a large number of shares in a firm should be voted on by all stockholders on both sides of the transaction. That would help to prevent managements from paying inflated prices to buy back stock from raiders in greenmail deals...
...Disaster Management: Discusses possible entry into the Red Cross's market of disaster aid. Includes an assessment of greenmail offerings from the humanitarian group to keep you out of the market...
...their assets invested in stocks and bonds and who have felt unfairly battered in the merger and takeover wars that have rocked Wall Street. In their view, many of those battles led to substantial portfolio losses for investors as beleaguered corporate executives paid off would-be takeover artists with greenmail, adopted so-called poison-pill measures to dissuade unwanted suitors by making their firms less attractive targets, or handed themselves fat settlements known as golden parachutes. All too often, argues New York's Goldin, "the shareholders have gotten short shrift...
...January 1985, after California's pension funds had taken a drubbing in the wake of Disney and Texaco greenmail payouts, Unruh persuaded managers from across the country to fight for better protection for their investments. Council members now include representatives of huge funds in California, Kansas, Illinois, Wisconsin, Massachusetts, Minnesota, New Jersey and New York City...
...demands that stockholder approval be required for a significant range of management actions. Among them: issuing stock that would dilute the voting power of existing shares by 20% or more, selling 20% or more of corporate assets to a hostile bidder in exchange for a takeover cease-fire, paying greenmail, or adopting a poison pill. Says Roland Machold, director of New Jersey's treasury division of investment: "We just want to be brought in on the big decisions...