Bank Handlowy approves controversial merger with Polimex-Cekop

This means that those in favor of the deal now control nearly 75% of the votes at the general shareholders' meeting. Minority shareholders say that they will continue to fight the merger, going to court if necessary. They argue that Polimex-Cekop's debt burden could cripple the merged company and destroy shareholder value. They also add that the merger negotiations were conducted with complete disregard for their interests and opinions. The dispute is seen as a test case for shareholder activism, which has been virtually unseen in the country to date. (Puls Biznesu, p. 8) A.N.