EECO Shareholders OK Re-Incorporation Move
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EECO Inc. said shareholders at a special meeting approved a re-incorporation in Delaware and also adopted a provision to prevent a buyer from purchasing the company at less than what directors consider its true value.
Delaware’s sophisticated corporate legal system and liberal laws governing corporations have made the state the nation’s leading corporate home. Delaware’s laws make an unfriendly takeover more difficult than such a transaction might be in California, where Santa Ana-based EECO had been incorporated.
In addition to supplying property management computer systems, EECO makes electronic switches, audio units for commercial jetliners, and video and television editing systems.
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