As companies increasingly introduce takeover defenses to counter activists, former University of Tokyo professor Goto Hajime (後藤元) has warned against their misuse.
Nikkei Business reports that companies are adopting takeover defenses to counter major activists such as Oasis, 3D and Dalton.
Former University of Tokyo professor Goto Hajime (後藤元) cautioned managers that takeover defenses could be misused beyond their original role of enhancing corporate value.
The article reports examples of takeover defenses being introduced alongside experts’ concerns, and points out that investors and market participants should assess the effectiveness and appropriateness of such defenses.