Visteon Corp. shareholders last week said they want a voice before directors try to stop any takeover attempts with a so-called poison pill.
A California shareholder proposed such involvement, saying poison pills hurt shareholder value and can deter profitable takeover bids.
Companies use the devices to make hostile bids more expensive, often by issuing more shares to existing shareholders.
Visteon shareholders went against board recommendation, approving the proposal by a small majority at the company's annual meeting on Wednesday, May 8, in Boston.
The supplier objected to the measure, saying it is important for the board to retain flexibility to adopt a poison pill without having to conduct a shareholder vote. The resolution is nonbinding, so directors still have the authority to enact a poison pill if deemed appropriate.
Just eight Visteon shareholders attended the annual meeting.