Doing the Shareholder Sidestep

Dealbook’s Steven Davidoff writes: Shareholders weren’t able to vote on a $620 million deal by Starbucks or a $9 billion deal by Freeport-McMoRan Copper and Gold. It may be an ego-shattering realization, but sometimes in a deal public shareholders just don’t matter.

Two recently announced transactions — the Starbucks Corporation’s $620 million acquisition of Teavana Holdings and Freeport-McMoRan Copper and Gold’s $9 billion deal for Plains Exploration and Production and the McMoRan Exploration Company — highlight how shareholders do not necessarily have a voice.

In November, Starbucks announced its deal for Teavana, a publicly traded company. But the deal had an unusual twist....

Wait, wait…there’s more at http://dealbook.nytimes.com/2012/12/06/doing-the-shareholder-sidestep/?ref=business