"I think there is a point that they become so large that they encourage executives to take the deal, regardless of whether it is in the best interests of the shareholders," said Cindy Schipani, a professor of business law at the University of Michigan.
March 19, 2024 at 08:14 AM
4 minute read
U.S. Steel General Counsel Duane Holloway, who helped the iconic American steelmaker negotiate its planned $14 billion sale to Japan’s Nippon Steel, will be eligible to receive a $16.3 million golden parachute if the deal closes.
It’s just the latest—and not even the largest—example of the huge payouts that top brass of big American companies, including legal chiefs, are poised to collect if pending sales progress through closing.
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