Shareholder Activism In Japan

Law360, New York (March 3, 2008, 12:00 AM EST) -- These are exciting times in the Japanese capital markets. Shareholder activism is on the increase, and a company called Steel Partners is at the forefront of the activity. Steel Partners made headlines in the summer of 2007 with its high-profile and controversial attempt to take over a Japanese company called Bulldog.

The facts of the Bulldog case are as follows. Steel Partners owned 10% of Bulldog and attempted a hostile takeover. The Bulldog board of directors did not want to lose control of the company and...
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