Shareholders Attack Hostile Takeover Of Reinsurer
Shareholder Neil L. Sclater-Booth filed a proposed class action Tuesday against Scor and Swiss investment company Patinex AG, alleging that Scor’s exclusion of U.S. shareholders violates U.S. securities laws. U.S. shareholders represent about 22% of the company’s outstanding shares.
The suit claims that under the Williams Act, Scor is obligated to extend its tender offer to non-U.S. securities holders and U.S....
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