Staring down the barrel of a proxy fight with hedge fund Jana Partners, San Francisco's CNET Networks agreed to sell itself to CBS for $1.8 billion Thursday. It's a deal that has corporate lawyers buzzing because it highlights the trend of increased shareholder activism and hostile activity at tech companies -- and also because the five-month fight between Jana and CNET produced a court ruling that has companies rechecking their bylaws.
May 16, 2008 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Staring down the barrel of a proxy fight with hedge fund Jana Partners, San Francisco’s CNET Networks agreed to sell itself to CBS for $1.8 billion Thursday.
It’s a deal that has corporate lawyers buzzing because it highlights the trend of increased shareholder activism and hostile activity at tech companies — and also because the five-month fight between Jana and CNET produced a court ruling that has companies rechecking their bylaws.
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