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Time Warner Strengthens Defences Against Takeover Bids

Time Warner has changed its bylaws to reduce the possibility of an extraordinary shareholder meeting being called to accept any further offers from Rupert Murdoch's 21st Century Fox. A rule that previously allowed 15 percent of shareholders to call for a meeting has been scrapped. Any shareholders that want to accept a Murdoch offer will have to wait the best part of a year before the next AGM.

Read the whole story at The Daily Telegraph »

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