11809. THE ANTI-TAKEOVER CONUNDRUM AND THE ROLE OF THE STATES. This paper examines the history, development and current status of state anti-takeover statutes with the objective of addressing the following questions: 1) should there be federal regulations that supersede the state anti-takeover regulations? And 2) what existing state regulations (if any) might reasonably be proposed as models for national regulation? Concludes that most state statutes serve mainly to deplete shareholder wealth and entrench management. Recommends amendments to the Williams act to nullify long-term state business combination/freeze out laws and to mandate that states shift from "opt-out" to "opt-in" provisions in takeover regulations. 22 pages, 73 footnotes, 32 bibliographic sources.