MCA’s certificate of incorporation was amended.
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At the company’s annual meeting in Chicago, shareholders approved three measures recommended by MCA’s directors that could raise barriers to unfriendly takeovers. The shareholders voted to increase the number of authorized shares to 150 million, up from 100 million, and authorized the issuance of up to 25 million shares of preferred stock. An amendment was also adopted that prohibits shareholder action by written consent. The shareholders also ratified an earlier board action that eliminates the ability of shareholders to call a special meeting.
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