"I'm well aware of that." She just continued to stare.
"Which means that when the SEC reports those holdings, it'll trigger the new provisions their majority stockholder— with whose power of attorney I acted with full legal authority—voted last week."
"Which was?"
"It's a little like what's being called a 'tin parachute' these days, the latest twist on the antitakeover 'poison pill.'"
"Isn't that where managements have their boards vote that a hostile buyout will trigger big disbursements of a company's assets to the rank and file? What's that got to do with . . . ?"
"That's the play. Great takeover defense, by the way."
"But Noda had already taken those companies over." She frowned, puzzling.
"Right. Obviously, nobody's supposed to institute one after a takeover, but that's what Dai Nippon voted to do last Wednesday and Thursday for every company it owns. The way it's set up now, if the majority stockholder in any of those companies, which just happens to be DNI, acquires another four percent or more, all that stockholder's stock is automatically disbursed to the employees."
"Just like that?"
"Fully legal. Like a 'tin parachute.'"