Proxy Fight
2005.03.06 7:57

Livedoor, which is led by internet entrepreneur Takafumi Horie, 32 and Fuji-Sankei Group, established media giant, which represents Japan's conservative opinion, are under fierce fighting over which to control more than 50% of Nippon broadcasting corporation.
Here's some figure to learn...Now Livedoor kept 47% strong, while Fuji-Sankei kept 25%.
If Livedoor won more than 50%, that means Nippon broadcasting corporation would be under Livedoor's complete control.
But If Fuji-Sankei won 25%, Fuji-Sankei can be independent from Nippon broadcasting corporation, it can evade from Livedoor control.
If Fuji-Sankei won more than one-third, which means more than 33.333..% of Nippon broadcasting corporation, which means Fuji-Sankei has got a veto over Nippon broadcasting corporation's decision who to be a president, company exective, CEOs, etc.
So now Livedoor 47% vs Fuji-Sankei 25%. TOB( take over bid, or tender offer bid) by Fuji-Sankei over the shares of Nippon broadcasting corporation will be over on 7th of March. Livedoor, if it were unable to reach 50%, it will go into a proxy fight to acquire an extra less than 3% of scatterred stocks.
Economic war indeed...