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BRIEFLY

Whittaker announced a new shareholder vote.

May 05, 1986

The Los Angeles conglomerate, with interests in health care, specialty chemicals and defense, adjourned its annual meeting until June 13 so that shareholders could vote on a new management proposal to reincorporate in Delaware. Shareholders were supposed to vote last Friday on a reincorporation plan that also included anti-takeover measures. But opposition by institutional investors to the anti-takeover measures threatened to defeat the entire plan, the company said. As a result, shareholders will be asked to vote next month only on reincorporation, the company said. Whittaker said it can save $3 million a year in premiums paid for liability insurance for its board of directors by reincorporating in Delaware.

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