08:39 AM EDT, 06/25/2024 (MT Newswires) -- Delaware lawmakers last week approved a bill that would allow companies to enter into contracts with shareholders that will give them more power over board decisions, Reuters reported Tuesday.

The approval comes amid warnings from law professionals who said the measure could weaken boards in favor of influential investors like private-equity firms, according to the report.

Governor John Carney has said he will sign the bill, which will become law on Aug. 1, Reuters reported.

The state's legislative office did not immediately respond to MT Newswires' request for comment.

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