Time Warner, which last week declined a $75-$80 billion bid from Rupert Murdoch’s 21st Century Fox, has changed its bylaws in a move designed to block a potential hostile takeover. The decision to scrap a rule allowing investors to requisition a shareholder meeting will strengthen Time Warner’s ability to resist Murdoch’s attempts even if its investors want a deal to be considered
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Time Warner, which last week declined a $75-$80 billion bid from Rupert Murdoch’s 21st Century Fox, has changed its bylaws in a move designed to block a potential hostile takeover. The decision to scrap a rule allowing investors to requisition a shareholder meeting will strengthen Time Warner’s ability to resist Murdoch’s attempts even if its investors want a deal to be considered
