PRESENTATION OUTLINE
The Williams Act was an act that provides the disclosure of equity ownership of securities.
This means that companies aren't allowed (without certain items) to make a tender offers (explanation on next page) because companies could be bought out and controlled by another company over the traditional proxy campaign. (voting for controlling the board of directors)
When a company wants to acquire control of another corporation, it may make a tender offer. A tender offer is a proposal to buy shares of stock from the stockholders for cash or some type of corporate security of the acquiring company. But because of the act this was limited.
Nobody wanted to do proxy campaigns because a tender offer could give them the entire company, and it was easier.
The entire reason for the Williams Act was to get rid of tender offers and for companies to revert back to the traditional (and fair) proxy campaigns. Although, tender offers still remain, but vastly limited. You'll need many things to even think about one.
Why is it important in school?
The Williams Act/Case required every Californian school to have the following:
1) State-adopted instructional stuff for the 4 core subjects
2) Highly qualified teachers
3) Safe School
