4.25.2008

Williams Explains Hostile Takeover Laws in Portland Business Journal

Lane Powell Shareholder and mergers and acquisitions attorney Rich Williams was quoted by the Portland Business Journal about what might happen if The Greenbrier Cos. shareholder Carl Icahn’s bid to acquire Lake Oswego-based company turns hostile. In the April 25 article, “Oregon Law Makes Hostile Takeovers Difficult,” Williams explained how the Oregon Business Corporations Act requires major shareholders to get board approval before pushing for a merger. “The purpose of the statute is to force the acquirer to negotiate with the board,” he said.