At BearingPoint's annual shareholder meeting Dec. 5, shareholders approved a reverse stock split at a one-for-50 ratio. That means every 50 shares of BearingPoint's outstanding common stock of market close on Dec. 10 will be automatically combined into one issued and outstanding share.
The board of directors at Unisys approved a similar move, also on Dec. 5. Unisys Corp. The board approved a plan for a reverse stock split to regain New York Stock Exchange compliance after shares fell below $1 a share limit for more than 30 consecutive trading days. Unisys will present the plan for shareholder approval at a meeting in the first half of 2009.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.