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There are compelling rationales for adopting a dual-class structure, but even proponents of the structure generally acknowledge that these benefits are significantly mitigated once the dual-class shares are out of the hands of the founders and/or pre-IPO stockholders. Voting agreements in public M&A transactions.
In the current market and economic climate most asset managers aren’t keen to try out that message in the short-term, but it’s definitely possible that the situation could evolve as we move through the cycle.”
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