Activist investment fund Stilwell has submitted a shareholder proposal requesting that Lakshore Bancorp suspend all financial institution acquisition plans until certain stock price conditions are met.
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The proposal clearly stipulates that merger and acquisition activities can only be resumed when the company's stock price remains consistently above its book value. This motion aims to protect shareholders' interests through disciplined capital allocation, preventing the company from engaging in potentially dilutive acquisitions when its stock price is undervalued.
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