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supermajority

 - 4 dictionary results

su⋅per⋅ma⋅jor⋅i⋅ty

  [soo-per-muh-jawr-i-tee, -jor-]
Use supermajority in a Sentence
–noun, plural, -ties.
1. a majority that must represent some percentage more than a simple majority.
2. a majority greater than a specified number, as 60%, of the total: required to pass certain types of legislation, override vetos, etc.
Origin:
super- + majority
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2009.
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su·per·ma·jor·i·ty   (sōō'pər-mə-jôr'ĭ-tē, -jŏr'-)   
n.   pl. su·per·ma·jor·i·ties
A specified majority of votes, such as 60 percent, required to approve a motion or pass legislation.
The American Heritage® Dictionary of the English Language, Fourth Edition
Copyright © 2009 by Houghton Mifflin Company.
Published by Houghton Mifflin Company. All rights reserved.
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Financial Dictionary

Supermajority

A corporate amendment in a company's charter requiring a large majority (anywhere from 67%-90%) of shareholders to approve important changes, such as a merger.

Investopedia Commentary

For example, let's say the TSJ Sports Conglomerate is faced with a merger proposal from ABC Sports Inc. If the company has a supermajority amendment in it's charter, then before they are able to merge (even if management fully endorses the move) the company will need to hold a shareholder vote on the issue and gain a majority equal to, or greater than, the amendment specifies (anywhere from 67%-90%).
This is sometimes called a "supermajority amendment". Often a company's charter will simply call for a majority (more than 50%) to make these types of decisions.

Related Links

The Wacky World of M&As
What Are Corporate Actions?
The Basics of Mergers and Acquisitions

See also: Board of Directors, Common Stock, Interested Shareholder, Majority Shareholder, Merger, Preferred Stock, Proxy Fight, Voting Right

Also spelled: Super Majority, Supermajority Amendment

Investopedia.com. Copyright © 1999-2005 - All rights reserved. Owned and Operated by Investopedia Inc.
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Legal Dictionary

Main Entry: su·per·ma·jor·i·ty
Pronunciation: 'sü-p&r-m&-"jor-&-tE
Function: noun
: a large majority supermajority vote — say, 80 % of the common shares instead of the usual bare majority rule —Railroad C. Clark>
Merriam-Webster's Dictionary of Law, © 1996 Merriam-Webster, Inc.
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