Court Rejects Boskalis' Bid for Vote on Fugro's Defences

A Dutch court on Tuesday rejected a bid by Dutch marine engineer Boskalis to have a shareholder vote on anti-takeover protections in place at smaller rival Fugro, in which it holds a 20 percent stake.

 

The legal challenge was closely followed because of the potential for it to set a non-binding precedent concerning poison pill protections in place at two thirds of all Dutch listed companies.

 

At hearings on Tuesday, Boskalis said Fugro's anti-takeover measures were disproportionate. Fugro rejected Boskalis's claim, saying that its offer to discuss its anti-takeover measures at a shareholder meeting without holding a vote was adequate.

 

 

(Reporting By Thomas Escritt; editing by Susan Thomas)