How a $14 billion deal can happen without a shareholder vote
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The James Hardy Acquisition Controversy
This chapter examines the contentious $14 billion acquisition of an American company by the Australian firm James Hardy, highlighting the absence of shareholder approval. It discusses the concerns of local investors feeling disenfranchised by the Australian Stock Exchange's regulatory framework, as well as the implications for corporate governance. The chapter also addresses the broader issues of shareholder rights and the pressures on the ASX to review its rules amidst growing discontent among major fund managers.
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