You have recently acquired 51% of XYZ Corp. through a hostile takeover. The old board of directors is still in place and, just before your acquisition, approved a by-law dividing the 9 member board into three classes of directors, each class coming up for election in 2023, 2024and 2025 respectively. How long will it take you to acquire effective managerial control of XYZ , if XYZ is incorporated in Delaware?

Answer rating: 100% (QA)

Acquiring effective managerial control of the corporation essentially means having enough board seat... View the full answer