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#649 Building a $80+ billion company w/ Brent Saunders

The Pomp Podcast

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The Hostile Takeover - Can You Vote Your Own Shares?

Bill Ackman was trying to take over allergan with a hostile takeover attempt. He bought his own shares in the company, but hedge funds argued that he had done inside trading and should not be allowed to vote for himself. A judge ruled against them; it came down to a proxy battle between Ackman and other shareholders. The fight went on for 10 or 11 days before they were able to buy out Allergan.

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