Capcom Shareholders Decide Not to Renew Takeover Defense
During their annual meeting today, Capcom’s shareholders decided that they would not be renewing their takeover defense plan. This plan has been in place since 2008 and was the company’s strategy to prevent a hostile take over.
Capcom had this to say:
“Despite of non-approval [sic] of Renewal of Takeover Defense at the 35th Ordinary General Meeting of Shareholders, Capcom will continue to focus on further preserving and enhancing corporate value and common interests of its shareholders. If there is any large-scale purchaser of Capcom stock, we will react to make necessary measures within the admissible limits of applicable laws and regulations. In addition, we will react to take steps to ensure disclosure of the position of the board of directors and other information and that there is sufficient time for shareholders to examine the proposed large-scale purchase and reach a decision.”
Now, this isn’t to say that because there is no takeover defense plan in place that that Capcom will be taken over by a third party company. This is highly unlikely.
Stay tuned for more on this as it develops.