Hill International Needs More Time To Defend Against Bulldog Investors
Hill International is the target of Bulldog Investors [initial thoughts here], has adjourned its 2015 annual meeting in an effort to mount a better defense against Bulldog Investors. Bulldog got a win with the Delaware courts to be able to nominate 2 candidates for the Hill board.
Recall that Hill rebuffed a $5.50 a share buyout offer from DC Capital earlier this year. Hill did recently ended its shareholder rights plan, making it a bit easier for a takeover.
The meeting is set for August 7.
Also, the Hill board has ended its stockholder-rights plan, which would have made it easier for Richter to resist a takeover attempt, after shareholders objected, according to Richter. Hill employs 4,800 in 100 offices around the world.