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Schering-Plough Vows To Bolster Governance

Law360 (December 18, 2006, 12:00 AM EST) -- Schering-Plough Corp. has decided to take action to better its corporate governance, which the company says reflects a longstanding initiative to be responsive to shareholders and socially responsible in general.

Schering-Plough plans to do away with the “poison pill” provision, propose a reduction in the amount of shareholder votes necessary for key decisions like removing a director, alter the necessary vote structure for the election of directors, and expedite an already approved change providing for the annual election of directors.

A Schering-Plough spokesperson on Monday called...
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