Digital shareholders restless for takeover

Restless Digital Equipment shareholders have urged the company to remove potential obstacles to a takeover, but stopped short…

Restless Digital Equipment shareholders have urged the company to remove potential obstacles to a takeover, but stopped short of asking an investment bank to find a buyer for the struggling computer company.

Although the votes at the annual shareholders meeting are nonbinding, they sent a strong message to Digital's board of directors that shareholders aren't happy with the company's performance.

By approving proposals to eliminate staggered elections for Digital board members and to revoke its "poison pill" anti-takeover provision - against management's recommendations - shareholders also seemed to crack open the door for potential suitors. - (New York Times Service)