At the last minute Borders has postponed the special shareholders meeting that was set for today in Ann Arbor until the end of day tomorrow. They say “while support for the proposals contained in the proxy statement has been strong, there are a significant number of shareholders who have not yet had the opportunity to vote and we want to give them time to consider the proposals and vote.” The ballot essentially gives shareholders the “option” of giving Bennett LeBow a massive option package–or else he gets “stock appreciation rights” that pay him anyway if the stock moves above the […]
