A different spirit of the law in OSIM takeover

YOU own some shares in a company. The founder wants to buy everybody out. You resist, claiming his price is too low.

But you cannot do much if the founder happens to also own such a big chunk of the company that he could - if he is able to quickly gather enough shareholders' acceptances - legally enforce compulsory acquisition at his bid price.

Is this unfair? The OSIM privatisation saga has dragged up a recurring issue in Singapore corporate law on how much power should be given to dissenting minority shareholders in a takeover.

Given the way the law is written now, minor…