Krager Foods Corp. has 650,000 shares outstanding. General Grocery, one of its subsidiaries, is disgusted with current management practices and is trying to get some of its own people elected to the board of directors. There are 12 directors, and General Grocery owns 60,000 shares.
a) Under cumulative voting, how many directors can General Grocery elect?
b) How many shares will General Grocery have to acquire in order to elect seven directors?

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The Answer of Krager Foods Corp. has 650,000 shares outstanding. General Grocery, one of its subsidiaries, is disgusted with current management practices and is trying to get some of its own people elected to the board of directors. There are 12 directors, and General Grocery owns 60,000 shares.
a) Under cumulative voting, how many directors can General Grocery elect?
b) How many shares will General Grocery have to acquire in order to elect seven directors?