Essay About Class B Shares And Hostile Takeover Bid

Saul Case
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In 1980, Saul Steiberg showed a strong intention for a hostile takeover bid and failed to achieve it thanks to the Ochs Trust. The Ochs Trust made sure that the board-controlling Class B shares safely locked away in it.In 1968, NYT chairman Arthur Hays Sculzberger approved the New York Times Co. plan to go public. In 1968, NYT chairman Arthur Hays Sculzberger approved the New York Times Co. plan to go public. In this plan, it sold Class A shares on the AMEX. However, to preserve the Sulzberger familys control of the company, Class A shareholders were given the right to elect three of the companys nine board members, with the remaining six to be elected by the holders of Class B shares. In 1968, NYT chairman Arthur Hays Sculzberger approved the New York Times Co. plan to go public. In this plan, it sold Class A shares on the AMEX. However, to preserve In 1980, Saul Steiberg showed a strong intention for a hostile takeover bid and failed to achieve it thanks to the Ochs Trust. The Ochs Trust made sure that the board-controlling Class B shares safely locked away in it.the Sulzberger familys control of the company, Class A shareholders were given the right to elect three of the companys nine board members, with the remaining six to be elected by the holders of Class B shares.In this plan, it sold Class A shares on the AMEX. However, to preserve the Sulzberger familys control of the company, Class A shareholders were given the right to elect three of the companys nine board members, with the remaining six to be elected by the holders of Class B shares.