Within hours involving Netflix Inc. asserting that it had followed a "poison pill" measure to bar a hostile takeover,capitalist investor Carl Icahn responded using a broadside calling the move "an example of poor business governance."
Icahn named Netflix's plan -- which would bring about whenever an individual as well as group tried to buy 10% or more of the organization -- "particularly troubling" because of its "low and discriminatory" tolerance. The billionaire disclosed about Oct. 31 which he had taken the 10% stake in the movie subscription company,
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"As one of the company's greatest shareholders we are worried about the poor corporate government at Netflix that these and other actions mirror," Icahn said in a statement filed Mon with the Securities and Exchange Commission,
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Netflix can now use a specialized maneuver to deluge the market with fresh shares and make a takeover test extremely expensive.
Icahn also required issue with the membership service staggering your terms of its owners, with one-third of people up for reelection annually. This would prevent another investor, seeking to wrest control over the company from its supervision, to propose a totally new slate regarding directors,
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