Topic summary
Non-voting shares
Extracted from the Wikipedia article Non-voting stock.
Takeover
There are consequences to not releasing voting rights to common shareholders; these include fewer supplicants for a friendly takeover, displeased shareholders as a result of the corporation's limited growth potential, and difficulty finding bidders for additional non-voting shares in the market. However, this is debatable since all publicly traded companies have their common shares in the open market for anyone to purchase. Examples include Tencent buying a non-voting 12% stake in Snap Inc. in 2017.