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Who are these shareholders?? Name and shame
The shareholder is a group called "National Center for Public Policy Research", a far right organization.
https://en.wikipedia.org/wiki/Costco#Ownership
Oops. All Private Equity.
I'm starting to think these private equity firms are bad eggs! /s
It's just bad apples. Landfills and landfills of bad apples. Not even compostable, that's how bad they are.
Not compostable, but they could be ground up to make some fertilizer.
The top three are index funds basically which is not really private equity in the colloquial sense. A lot of people's retirements and savings are held by vanguard, blackrock and state street.
These are not the same firms behind the proposal though. I know some of the funds listed like Blackrock and State Street have supported DEI at least in the past and have been targeted by the far right for that reason.
Is there any legal way a company can prevent the sale of their stock to a private equity?
Go private and don't have stock traded on the secondary market?
You can’t restrict the sale of stock, typically, but there are some provisions that can be adopted to make things more resilient. Check out “Poison Pills” on Wikipedia
This for all shareholders, all the time. Their laws might care about the corporate veil but we don't.