Companies increasingly seem to be in a more compromising mood these days when it comes to governance issues. But not, apparently, when it comes to the issue of rights offerings, or poison pills.
Oh sure, since last year’s annual meetings, at least 30 companies have eliminated or at least amended their poison pills, according to the Institutional Shareholder Services. One possible reason is because at 27 of these companies, prior non-binding shareholder resolutions had fetched majority support.
