Kaman Corp. (USA, NASDAQ:
KAMNA)
and Mason Capital Management LLC will face off in a Connecticut federal district court on October 7, 2005, over
Mason's suit to stop Kaman from continuing with its planned recapitalization and equity conversion.
Mason Capital sued Kaman and the Kaman family to force a supermajority vote it claims is required by
Connecticut's antitakeover legislation. Mason has been thwarted by the Kaman in its effort to
buy out the Kaman family's class B stock shareholders for a controlling stake in the company.
Mason says it now owns enough of the voting B common shares that the supermajority
vote would fail, if the court decides those antitakeover rules apply in this instance.
Kaman had originally scheduled a special Class A and Class B shareholder meeting for October 11, during
which it would vote on the proposed recapitalization and buyout of the Kaman family class B shares. Now that
the court date is set for October 7,
Kaman said it has delayed the meeting and the vote until after the court renders its decision.
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- by Bruce A. Carr
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