Frates Loses Kaiser Buy-Out Bid
- Share via
Associated Press
OAKLAND — Oklahoma businessman Joseph A. Frates today lost his bid to oust the board of debt-ridden Kaiser Aluminum & Chemical Corp. and gain control with a $1.24-billion buy-out plan at the company’s annual meeting.
Kaiser Chairman and Chief Executive Officer Cornell C. Maier called the unofficial shareholders’ vote an “overwhelming defeat” for Frates. The unofficial total was not released and the official vote count will not be available until May 13.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
