News Corp. "Poison Pill" Pact Not Quite Fit to Print

Law360, New York (May 24, 2006, 12:00 AM EDT) -- “I get letters from shareholders who write to me, and they plead and beg for plain, clear language,” said Judge William B. Chandler of Delaware’s Chancery Court, qualifying his approval of the plan.

In April, News Corp. decided to allow investors to vote on its corporate defensive strategy just two weeks before the media conglomerate was set to go to trial.

Though a courtroom showdown has now been averted, Judge Chandler believes the terms of the settlement are confusing to ordinary shareholders and admitted that the...
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