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<blockquote data-quote="moreluck" data-source="post: 85032" data-attributes="member: 1246"><p>FedEx Seeks to End Supermajority Voting</p><p>Monday April 3, 9:28 am ET</p><p></p><p>FedEx Seeks to End Supermajority Voting, Switch to Simple Majority</p><p></p><p>MEMPHIS, Tenn. (AP) -- FedEx Corp., the world's No. 1 express delivery company, said Monday it is seeking shareholder approval to allow merger proposals and other business to pass with a simple majority of shareholder votes, rather than the supermajority currently required.</p><p>The company said it plans to put the proposal up for a vote at this year's annual shareholders meeting.</p><p></p><p>FedEx currently requires an 80 percent supermajority in order for certain business combinations, including mergers, to go through. It also requires a supermajority for maintaining the company's staggered board terms.</p><p></p><p>The company's annual meeting is scheduled for September. Approval of the measure will require an 80 percent supermajority stockholder vote.</p></blockquote><p></p>
[QUOTE="moreluck, post: 85032, member: 1246"] FedEx Seeks to End Supermajority Voting Monday April 3, 9:28 am ET FedEx Seeks to End Supermajority Voting, Switch to Simple Majority MEMPHIS, Tenn. (AP) -- FedEx Corp., the world's No. 1 express delivery company, said Monday it is seeking shareholder approval to allow merger proposals and other business to pass with a simple majority of shareholder votes, rather than the supermajority currently required. The company said it plans to put the proposal up for a vote at this year's annual shareholders meeting. FedEx currently requires an 80 percent supermajority in order for certain business combinations, including mergers, to go through. It also requires a supermajority for maintaining the company's staggered board terms. The company's annual meeting is scheduled for September. Approval of the measure will require an 80 percent supermajority stockholder vote. [/QUOTE]
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