Take Over Bid - Result
2005.03.09 22:35

Fuji-Sankei has got 36.47%( over 1/3 ) of all shares of Nippon broadcasting corporation. That means it gets vetos over the decision of Livedoor/Lehman Brothers on who to hire CEOs, president, chairman, management board overall.
Livedoor/Lehman Brothers now holds 42.23%, even if its share will exceed more than 50%, Fuji-Sankei now has vetos.
Other problem arises. If more than 80% of all shares of one company are owned by less than 10 stockholders, this company is no more eligible to be dealt with the Stock Exchange, which result in the devastating downfall of stock price. And now 2 companies hold 78.7%.
While two groups are fighting over who to control the company, the value of the company itself will be submerged.
Who is fighting for what?