Midland Petroleum is holding a shareholders meeting next month. Ms.

Question
Midland Petroleum is holding a shareholders meeting next month. Ms. Ramsay is the president of the company and has the support of the existing board of directors. Allll members of the board are up for reelection. Mr. Thone Pickens is a dissident shareholder. He controls proxies for 40,001 shares. Ms. Ramsay and her friends on the board control60,001 shares. Other shareholders, whose loyalties are unknown, will be voting the remaining 19,998 shares. The company uses cumulative voting. a. How many directors can Mr. Pickens be sure of electing? b. How many directors can Ms. Ramsay and her friends be sure of electing? c. How many directors could Mr. Pickens elect if he obtains all the proxies for the uncommitted votes? Will he control the board?
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