Business Law - Stock Question
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Little Ltd. is a small, publicly-traded company that owns a valuable patent. Little has approximately 1,000 stockholders and about 100,000 shares authorized and outstanding. Big Company would like to buy out all of Little's assets, but Little's board of directors refused the offer. Big has now tendered an offer to all of Little's stockholders offering to pay them U.S. $10 per share for their holdings, a price that is slightly above their current market price. What can Little do to prevent Big from succeeding in its attempt to buy all of the outstanding stock in Little?
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Solution Summary
This solution explains the business law scenario of Little Ltd All pertinent facts are thoroughly addressed.
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The first step that Little Ltd. would want to take is to call an extraordinary general meeting. This is a special, urgent, immediate meeting that brings together the board of directors in order to discuss critical concerns. At this meeting, if it is agreed that a takeover isn't wanted through the actions from the other company as described above, it would be recommended that ...
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