You may be correct as it depends on the company's governing documents and the laws of the jurisdiction in which the company is incorporated, and I do not have direct knowledge of that information.
Seve333/RMB :According to Investopedia, I believe this to be incorrect. The public company has a duty to disclose and bring a vote from its shareholder prior to the acquisition by a private company can be exercised: https://www.investopedia.com/terms/v/votingright.asp “Understanding Stockholder Voting Rights Shareholders have the right to vote on corporate actions, often at the company's annual shareholder meeting. These decisions can include: • The makeup of the board of directors • Issuing new securities • Initiating corporate actions like mergers or acquisitions • Approving dividends • Substantial changes in the corporation's operations or policies The Bottom Line • Stockholder voting rights are given to shareholders of record in a company, allowing them to vote on certain corporate actions of that company. These actions can include things like electing a new board of directors, approving the issue of new securities, and initiating a new merger or acquisition. It is also answered by AI text as follows: AI Overview Learn more Yes, when a private company makes an offer to buy a publicly traded company, the public company is required to ask for a vote of its current shareholders, as shareholders have the right to decide whether to accept the offer and sell their shares to the acquiring private company; this is typically done through a tender offer where shareholders vote to accept or reject the proposed deal. Please correct me if I misunderstood what is being said above. My interpretation of the above is that as long as a public company is trading on the US stock exchange regardless of their jurisdiction, (never mentioned in these articles) they have to abide by the sec rules
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