But hedge funds that own 18% of Loral's stock say in a lawsuit filed in Delaware in March that Rachesky is mounting a "stealth takeover" without paying a premium.

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Within eight months the handset unit had agreed to a takeover by Google at a 63% premium.

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He later sued the resulting company, DaimlerChrysler, saying he was misled into believing the deal would be a true merger, rather than a takeover, that should have entitled him to a premium.

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He later sued the resulting company, DaimlerChrysler (nyse: DCX - news - people ), saying he was misled into believing the deal would be a true merger, rather than a takeover, that should have entitled him to a premium.

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Department of Labor wanted the measure of damage to be the presumptive premium in fair market value that the pending takeover bid had created.

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They added that the new ratio of Glencore to Xstrata shares on offer represented a premium "significantly lower than would be expected in a takeover".

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In addition, they said the new ratio of Glencore to Xstrata shares on offer represented a premium "significantly lower than would be expected in a takeover".

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The Tiffany premium is long-standing because the company is viewed a potential takeover target.

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The one risk in being too negative is the chance that they sell to a larger competitor, though at a nice premium to its tangible book value, the stock is not as attractive as other potential takeover candidates.

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