Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

Friday, June 22, 2007

Lear Postpones Vote on Icahn Buyout

Lear Corp. postponed its special meeting to vote on Carl Icahn's $36 per share buyout offer, for which it reaffirmed its support.  Postponement seems to be a more common tactic these days, in face of shareholders' resistance.  Both Proxy Governance and ISS recommend that shareholders vote against the deal.  The new meeting date is July 12 (originally June 27). See WSJ, Lear Affirms Support for Buyout  By Icahn, Delays Annual Meeting.

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