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The Iowa Business Corporation Act's Staggered Board Requirement for Public Corporations: A Hostile Takover of Iowa Corporate Law?
Drake Law Review Discourse (2012)
  • Matthew G Dore, Drake University
Abstract
State legislatures are the latest arena in a long-running battle over the merits of staggered boards of directors. Several states, including Iowa, have recently amended their corporation laws to require, as a default proposition, that public corporations have staggered boards. These new staggered board laws are apparently designed to help local public corporations resist unwanted takeover bids, an understandable goal for legislators who want to keep home-grown public corporations headquartered in their states. But the laws come with a high pricetag: as this article explains, the new laws circumvent traditional notions of corporate governance and shareholder primacy, and may also mask potential conflicts of interest on the part of corporate managers who lobby for their passage.
Keywords
  • staggered board of directors,
  • hostile takeovers
Publication Date
2012
Citation Information
Matthew G Dore. "The Iowa Business Corporation Act's Staggered Board Requirement for Public Corporations: A Hostile Takover of Iowa Corporate Law?" Drake Law Review Discourse Vol. 1 Iss. 1 (2012)
Available at: http://works.bepress.com/matthew_dore/3/