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Jan 31, 1999

Staying put

When LucasVarity put it to shareholders that it should move to the US it thought it had all the answers prepared. Unfortunately, some were not convinced

Trying to move home can be stressful at the best of times. It's even worse when you're trying to move a whole company. Just ask LucasVarity. The UK-based automotive components group stumbled badly at the beginning of November last year when its plan to move its listing from London to the New York Stock Exchange was rejected by shareholders. To get the mandate for a change of domicile the company needed backing on two fronts: a simple majority of shareholders to endorse the move at a High

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