Indiana Law May Shield Skyline in Takeover Bid

A 28-year-old Indiana law could shield Elkhart, Ind.-based based Skyline Corp. from competitor Cavco Industries Inc.’s takeover attempt. As reported by the Elkhart Truth, the state’s Control Shares Acquisition Statute, enacted in 1986, prohibits a company that acquires 20%, 33 1/3% or 50% of a target corporation’s stock from obtaining voting rights in the company’s affairs unless […]