Healthdyne anti-takeover provision debated by Georgia legislature; Invacare extends hostile bid for firm.
This article was originally published in The Gray Sheet
Executive Summary
HEALTHDYNE ANTITAKEOVER PROVISION DEBATED IN GEORGIA LEGISLATURE conference committee March 28. Healthdyne Technologies has pushed for the measure -- which would mandate staggered terms for board directors at all public companies in Georgia and prevent an entire board from being up for election at one time -- in an effort to stave off a hostile takeover bid initiated by Invacare in January. Invacare's $13-per-share tender offer for Marietta, Georgia-based Healthdyne, which had been slated to expire March 24, has been extended until April 7.