Pharma Industry
Industry: Email Alert RSS FeedISP Shelves Proposal To Nix Hercules Poison Pill.(International Specialty Products Inc. still hopes to elect directors to the board of Hercules Inc.)(Brief Article)
Chemical Market Reporter, March, 2001
INTERNATIONAL SPECIALTY Products Inc., led by 76 percent owner and chairman Samuel J. Heyman, has shelved its proposal to eliminate Hercules Inc.'s poison pill takeover defense mechanism, but will focus its efforts on electing four of its directors at Hercules' next annual shareholder meeting on April 26.
"We have decided to table our other shareholder proposals in order to focus the proxy contest on the election of our nominees," stated Mr. Heyman in a March 12 letter to Hercules president and CEO Thomas L. Gossage. "As a result, both sides will be able to address for shareholders, in a very direct and clear cut way, the paramount issue-the Hercules board's record of corporate stewardship." In a March 12 filing with the Securities and Exchange...
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