Classified Boards Once Again Prove Their Value to Shareholders

This post is from Theodore Mirvis of Wachtell, Lipton, Rosen & Katz.

When you’re right, you’re right. And when you’re wrong, you are very wrong. Here is yet more evidence of the value to stockholders of staggered boards. Anyone listening up there in that ivory tower?

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2 Comments

  1. Posted Monday, October 22, 2007 at 2:23 pm | Permalink

    Please send Mirvis article. Thx. JJH

  2. Andy Eggers
    Posted Wednesday, October 24, 2007 at 11:15 am | Permalink

    So, let’s see: The memo this post refers to provides _two instances_ in which a takeover was thwarted by a staggered board and the company was later sold for more. The Bates, Becher, and Lemmon paper cited in that memo _does not_ find that shareholders do better with a classified boards; it merely fails to find that they do worse. Now what is the basis for the triumphalist tone of this post?

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