texasaggie2010,From what I know, ADR's would not necessarily be...

texasaggie2010,

From what I know, ADR's would not necessarily be consoldated, although likely they would be adjusted as well.

In any takeover, the ADR's would go as well. However, again from my understanding, they don't get any vote, so they are 'dead' from that perspective. As an example, say 10% are in ADR's, then only 90% of shares are valid for voting, so 45% of the actual shares represents 50% of the voting. I think that means a takeover is harder?

If anyone knows any better, I will defer to their learned opinion.