BANKING & FINANCE - May 20, 1995
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Chase Takes Defensive Posture: Chase Manhattan Corp. said it will take steps to increase its protections against a possible proxy fight with large shareholders. In a filing with the Securities and Exchange Commission, Chase amended its bylaws to eliminate the right of stockholders with more than 25% of the company’s stock to call special meetings. Such a measure would make it difficult for a large stockholder to issue proposals to other shareholders without management’s consent. Analysts viewed the filing as routine.
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