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Eisai Gives Takeover-Blocking Authority To Outside Directors

This article was originally published in PharmAsia News

Executive Summary

Eisai has established a committee of outside directors to be ready to take protective action if the company becomes a takeover target by another company. The directors themselves proposed the program and have been given the charge to decide for themselves whether to implement it. Normally, company executives make an anti-takeover effort, but they have been criticized for protecting their own interests instead of that of the company. More than half of Eisai's board members are outside directors given independence to act so the decision would not be left to people close to the founding family or officials with major business connections. (Click here for more - a subscription may be required
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