Nasdaq Wants Feedback on Requiring Shareholder Votes for M&A
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Nasdaq Inc. wants to hear from you on whether it should update rules requiring a shareholder vote on corporate actions such as takeovers.
The owner of the Nasdaq Stock Market is asking for public comment through Feb. 15 on its shareholder-approval rules. That includes a provision that requires equity owners to vote when a Nasdaq-listed company wants to issue shares amounting to a 20 percent stake to fund a takeover of another company. “It has been suggested that the 20 percent threshold is restrictive,” Nasdaq said.