§ 7-5.2-2 - Legislative findings. - Rhode Island Statutes

SECTION 7-5.2-2

   § 7-5.2-2  Legislative findings. – The general assembly finds and declares that:

   (1) The hostile takeover of publicly held domesticcorporations by business combinations is generally not in the public interest;

   (2) A permissive statutory method should be established underwhich domestic, publicly owned corporations can have available methods to limithostile takeovers; and

   (3) In determining whether a takeover, whether by way oftender offer or other acquisition proposal, is desirable, the board ofdirectors of a domestic corporation can review and take into consideration anyfactors that affect the corporation's employees, suppliers, creditors,customers, and the community in general.