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SpaceX would get enhanced protection from Texas laws, filing says [Yahoo! Finance]
Last tesla, inc. earnings: 4/29 04:11 pm
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fend off any hostile bidder or activist investor pushing ?for changes at the company, according to a regulatory filing seen by Reuters. SpaceX is preparing ?for what could be the largest initial public offering in history and could take space exploration from a speculative venture to a ?mainstream investment. "Some provisions of Texas law, and our charter and our bylaws contain provisions that could make the following transactions more difficult: acquisitions of us by means of a tender offer, a proxy contest or otherwise, or removal of our incumbent officers and directors," SpaceX said in its S-1 filing, which was seen by Reuters. The ?anti-takeover statute under Texas law is "expected to ?discourage coercive takeover practices and inadequate takeover bids," the filing added. Instead, anyone who might want to make a play for SpaceX, the filing said, would need to "first ?negotiate with us." The provisions could calm investors' nerves at a time when companies face pressure fr
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