Unlawful Last Resort
2005.02.24 23:04

Fuji TV network abruptly announced issuing new stocks 1.4 times as large as current stocks, which makes 25% to 66% of stock's group ownership, while Lehman Brother's 40% to 16% if admitted. Their 'white knights' are themselves.
This is an unlawful case of 'poison pill'. Poison pill terms have to be written down in a corporate terms and conditions in advance so that anyone who attempts M&A can see, but no such terms can be found in any Japan's corporations so far, so it is unlawful.
This must have been an only way to discourage an M&A attempt this time. ...This case went to court which will judge whether it's against a law soon.
If they admitted it's OK to issue a new stock, it will mean nothing but the end of capitalism here, very unfavourable countermeasure. We oughtn't to admit such measures.