Wednesday, November 17, 2004 With the implosion of Enron and WorldCom, it seems strange that -- in light of the new stringent regulations such as Sarbanes-Oxley -- there has not been much hostile activity lately. Well, this may change.Take yesterday's deal, in which General Electric (NYSE: GE) purchased the Edwards Systems unit of SPX (NYSE: SPW) for $1.4 billion. SPX is the perfect target for a hostile bid. It is a conglomerate of slow-growing industrial properties. It recently had issues with its accounting. And, most importantly, it has assets that are undervalued -- such as the Edwards Systems unit. A firm called Relational Investors LLC purchased a significant stake in SPX (about 5.7%) and recently launched a proxy fight to throw out management. The firm alleges in an SEC statement that management improperly altered its compensation structure. The Sarbanes Raiders Previous articles Mycom Announces New Electronic Mail Archiving Serv...
|
Sponsored by:
Kumquat: Get the feedback you deserve
Learn more
FREE to Inside Sarbanes Oxley readers
|
About inside Sarbanes-Oxley inside Sarbanes Oxley is dedicated to finding the best sources of news and information on the changing landscape of Sarbanes Oxley and compliance. Whether you call it SOX, Sarbox, or the Sarbanes-Oxley Act of 2002, look no further than inside Sarbanes Oxley. More Copyright © 2004-2006, Inside Sarbanes-Oxley
|
Additional resources Try these recently updated resources: RSS Feed Interested in staying up-to-date on all the latest Sarbanes-Oxley news? Subscribe to the inside Sarbanes-Oxley RSS feed and get all of the latest news on SOX delivered directly to your feed reader. inside
Sarbanes-Oxley RSS Feed
|
