Newhall Land & Farming said its unit...

Newhall Land & Farming said its unit holders approved a package of anti-takeover measures that give management of the Valencia-based land developer a victory over several dissident investors. The proposals were passed during a special meeting Monday in which the dissidents--led by O’Connor Securities, a Chicago-based investment firm that owns 3% of Newhall--argued that the provisions would entrench management and deprive investors from getting a higher price for their units. Newhall, which is developing the community of Valencia, is a master limited partnership whose units are publicly traded.