Ahold Delhaize's boards have the right to extend anti-takeover measures indefinitely, the Belgian-Dutch company's chief legal officer told shareholders on Wednesday.
Jan Ernst de Groot said that the management and supervisory boards could extend the company's poison-pill protection without seeking the approval of shareholders.
The plan has come under fire from shareholders, who have threatened legal action if the measure is not put to a vote.
Annual General Meeting
Ahold Delhaize's annual general meeting was attended by 263 shareholders, representing approximately 921 million shares.
At the meeting, shareholders adopted all AGM resolutions, including the 2017 financial statements and established the 2017 dividend at €0.63 per common share, to be paid on 26 April 2017.
Other proposals on the agenda, including the appointment of Wouter Kolk as member of the retailer's management board and the reappointment of René Hooft Graafland as member of the supervisory board, were also approved by shareholders, Ahold Delhaize said in a statement.
News by Reuters, edited by ESM. Additional reporting by Stephen Wynne-Jones. Click subscribe to sign up to ESM: European Supermarket Magazine.
