Lockheed board affirms opposition to 'greenmail.'

PR Newswire | February 28, 1990 | Copyright

LOCKHEED BOARD AFFIRMS OPPOSITION TO 'GREENMAIL'

CALABASAS, Calif., Feb. 28 /PRNewswire/ -- Lockheed Corporation's (NYSE: LK) board of directors today passed a resolution officially affirming its opposition to the payment of "greenmail". In addition, the board will propose to Lockheed shareholders at the March 29 annual meeting that they adopt an amendment to the corporation's bylaws that would permanently prohibit the practice without shareholder approval.

A greenmail proposal made Monday by Harold Simmons would only ban such payments on stock held ...

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