Disgruntled unit holders of Newhall Land &...

Disgruntled unit holders of Newhall Land & Farming forced the Valencia-based land developer to hold a special meeting of all unit holders to vote on anti-takeover steps Newhall proposed. Newhall said the meeting is scheduled for May 16 for unit holders of record April 25. Newhall, a partnership whose units are publicly traded, initially asked unit holders to give written consent for the plan by April 22. But after some investors criticized the proposals, holders of more than 10% of Newhall’s units requested a meeting to debate the plan which, under Newhall’s partnership agreement, required that the meeting be held.