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Spanish to English translations [PRO]
Bus/Financial - Finance (general) / OPA | | Spanish term or phrase: sobre la supresión del blindaje estatutario | El x de diciembre tendrá lugar una Junta General de Accionistas para deliberar sobre la supresión del blindaje estatutario, con prima de asistencia de 0,20 euros brutos por acción.
¿Alguien sabe a que se refiere "sobre la supresión del blindaje estatutario"?
Gracias. |
| PoughkeepsieKudoZ activityQuestions: 532 (none open) ( 11 closed without grading) Answers: 0
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| | removal of restrictive clauses from the Articles of Association | Explanation:
"blindaje" is literally "armour-plating".
In this case, it refers to clauses designed to prevent hostile takeover bids: in Spain, this generally consists of caps on voting rights (e.g. a shareholder can't vote more than 10%, even if they own more), restrictions on appointments (e.g. new Chairperson or CEO must have been a member of the Board for the last 3 years), etc. Classic poison pills and macaroni defences are less common here, in my experience. |
| Selected response from:
 John Rynne
Local time: 20:44
| Grading comment So helpful! Thanks John!
4 KudoZ points were awarded for this answer |
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| Discussion entries: 0 |
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The translation workplace 
peer agreement (net): +5