> BTW - is Sun shareholders in US is capable to have
> influence on Sun acquisition/non-acquisition by third
> party? I have a legal higher
> education also, but I don`t have a clue re US
> legislation.
>
>
> I mean, here in Ukraine, if shareholders haven`t gave
> their approval, such
> acquisition much probably will not happen.
>
Of course, Sun's shareholders have a final say on the rumored deal. I have
heard--no basis whatsoever--that Sun's largest shareholder Southeastern Asset
Management ("SEAM") is not happy with the offer. SEAM's flagship mutual fund
Longleaf Partners acquired 161,048,623 shares, or 22%, of Sun's common shares
last year at a total cost of $2,144,337,495 (this represents an average cost of
$13.3 per share).
Longleaf Partners is known in the industry for taking a long position
(something like at least 5 to 6 years) on the stocks it holds. If SEAM says
no, it is very unlikely that anything will happen.
--
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