Iowa Gov. Signs Law To Cut Down On Hostile Takeovers

Law360, New York (March 23, 2011, 10:15 PM EDT) -- Iowa Gov. Terry E. Branstad signed legislation on Wednesday designed to prevent hostile takeovers by requiring Iowa public corporate boards to stagger the terms held by their directors.

Bill SF 325 passed by heavy margins in both chambers of the Iowa General Assembly. The state senate passed the bill on March 7 by a vote of 40 to 10, and the house of representatives passed it on Monday by a vote of 96 to 2. The bill took effect immediately on signing.

State Sen. Robert M....
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