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Article: Shareholders attempt takeover.(News)
- Article from:
- Plastics News
- Article date:
- October 26, 2009
CopyrightCOPYRIGHT 2009 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Matt Griswold
A battle is brewing between executives at Mesa, Ariz.-based American Insulock Inc. and a group of disgruntled shareholders led by the company's former CEO.
The shareholders on Oct. 20 filed a resolution with British Columbia authorities suggesting that American Insulock's board of directors and upper management should be removed from office. The company is traded on the Vancouver-based Canadian National Stock Exchange.
This is the fifth time in the company's 25-year history that its shareholders have attempted a hostile takeover, shareholder and former CEO Enna Keller said in an Oct. 21 telephone interview.
But ...