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Anyone following this battle for Anadarko? I read an article that stated the latest bid from Occidental which raised the cash level and share value significantly was done so to eliminate the need for a shareholder vote. Can someone explain why this would eliminate the need for shareholder vote? I’m guessing it’s because of the increase to the share price which creates immediate shareholder value which places the vote solely on the Anadarko board. Looking for a deeper explanation though.
Thanks for the help!
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