(Bloomberg) -- Activist investor Dan Loeb disclosed a $1.5 billion stake in Sony Corp. and is pushing the Japanese technology giant to spin off its semiconductor division and focus on its main entertainment business. Sony is “one of the most undervalued large cap businesses in the world today,” Loeb’s Third Point LLC wrote in a letter to its investors Thursday...
CBS and Viacom are expected to begin seriously discussing a merger after tomorrow's board meeting. The companies must agree on a number of leadership questions to get a deal done.
Milken Institute report calls for oversight of proxy advisory firms [June 13, 2019] Milken Institute report calls for oversight of proxy advisory firms Reforms are needed to bring transparency and accountability to proxy advisory firms, whose advice to institutional investors influence the outcome of shareholder votes on matters like executive pay, acquisitions, and board appointments, according to a new Milken Institute white paper...
Callaway Golf soared in Thursday trading after longtime activist investor Jana Partners disclosed a 9.2% stake in the company...
A hedge fund run by veteran activist investor Nelson Peltz has bought a 6% stake worth around £736 million in plumbing group Ferguson. Trian said it believed Ferguson – previously called Wolseley – was “an attractive business that trades at a discount to comparable US peers” as it snapped up the holding. It added it has been in contact with Ferguson management and “looks forward to working with them to explore and implement initiatives that it believes can create long-term shareholder value”.
Could The Aptose Biosciences Inc. (TSE:APS) Ownership Structure Tell Us Something Useful? Simply Wall St Reblog Want to participate in a short research study ? Help shape the future of investing tools and you could win a $250 gift card! If you want to know who really controls Aptose Biosciences Inc. ( TSE:APS ), then you'll have to look at the makeup of its share registry.
Bill Ackman’s critique of United Technologies Corp.’s planned merger with Raytheon Co. cries out for a critique of its own. The activist investor sent an e-mail to United Technologies CEO Greg Hayes over the weekend expressing concern about reports that the company was nearing a deal with missile-maker Raytheon. “We cannot comprehend the strategic logic,” Ackman wrote of the merger, which was announced late Sunday as an all-stock, no premium transaction.
(Bloomberg) -- Crystal Amber Fund Ltd., the U.K. activist investor run by Richard Bernstein, is seeking to replace the board of technology incubator Allied Minds Plc after management rebuffed an attempt to discuss the company’s strategy. Crystal Amber, which has criticized Allied Minds’s executive compensation, is considering calling a shareholder meeting to oust the company’s current directors, Bernstein said in a phone interview Wednesday.
Tesla will host its annual shareholder meeting Tuesday. A lot — a whole lot — has happened since the last time CEO Elon Musk faced stockholders in this formal setting a year ago. Musk announced plans to take the company private last August, claiming that he had “funding secured” to do so. It soon turned out that he had not in fact secured funding , and he quickly dropped those plans .
(Bloomberg) -- Bill Ackman urged United Technologies Corp. to call off its proposed takeover of Raytheon Co., vowing to oppose a deal he assailed as lacking strategic sense. The transaction will crimp United Technologies’ aerospace business and be funded by a “highly dilutive” share issuance at a time when the stock is already trading at a discount, the activist investor said in a message early on June 9 after reports of a potential deal...
Tax on Nonprofits Could Snare Companies, Too A new excise tax on executive pay at tax-exempt entities may also apply to their affiliated for-profit companies, IRS guidance suggests. David McCann Companies with affiliated tax-exempt entities could find themselves surprised to be on the hook for a new tax, in light of interim guidance recently released by the Internal Revenue Service.
Elon Musk got ‘paid’ $2.3 billion last year but actually earned $0, and this shows how complicated CEO compensation has become By - June 11, 2019 A recent report from The New York Times indicated that Tesla CEO Elon Musk received stock options worth nearly $2.3 billion in 2018, more than 17 times the reported compensation of the next-highest executive on the list.
There's a record number of women on the boards of Fortune 500 companies. Racial and ethnic minorities, not so much. Allana Akhtar twitter Women filled 183 of the 462 open board room positions at Fortune 500 companies , according to a new report. Racially diverse candidates did not see the same gains, though. African-American candidates filled just 11% of new board seats. Greater diversity in leadership leads to fewer errors and greater innovation, according to research.
Reuters On Jun 10, 2019 PARIS: Renault has signaled it will block reforms launched by alliance partner Nissan in the wake of the Carlos Ghosn scandal unless it is granted representation on new board committees, a source close to the French carmaker said. Renault, which owns 43.4% of Nissan, informed its Japanese affiliate in a letter signed by Chairman Jean-Dominique Senard that it planned to abstain in a shareholder vote on the plans, the Financial Times reported earlier on Sunday.
The set of corporate governance reforms proposed by Das include streamlining of the board-level appointment process, development of effective risk ...
Chip Somodevilla/Getty Images; Samantha Lee/Business Insider Some 68% of independent Facebook investors voted to oust Mark Zuckerberg last month, cementing a vocal campaign for the firm to appoint an independent chairman. The tiny activist investor behind the vote, Jonas Kron, said it should be the catalyst for a period of "deep soul searching for the Facebook board."
Tesco has come under fire for handing “excessive” pay to top boss Dave Lewis ahead of its annual meeting by an influential shareholder lobby group. Last month it was announced that Dave Lewis picked up a £4.6 million pay packet, months after 9,000 jobs were put at risk at the retail giant. Mr Lewis earned a £1.6 million bonus, on top of his £1.25 million base salary and £1.3 million through the company’s long-term share plans, Tesco’s annual report revealed.
Back in January, Carl Icahn began building his stake in Caesars Entertainment Corp. (NASDAQ: CZR ) having decided, and we think correctly so, that the company was ripe for sale. Since then, he has slowly increased his stake to 28.5% (including swaps), placed four of his directors on the board, and arranged the appointment of a new CEO, Anthony Rodio, last month.
Trucks are seen on a bridge intersection near the World Trade Bridge border, in Laredo, More By Anthony Esposito MEXICO CITY (Reuters) - A flood of companies eyeing Mexico as a safe haven from the U.S. trade war with China risks evaporating after President Donald Trump last week threatened to unleash tariffs on Mexico too.
Charged with overseeing the company's probation, he had given PG&E's board of directors , CEO and other senior leaders until July 15 to make the ...
Do Institutions Own Tamarack Valley Energy Ltd (TSE:TVE) Shares? Simply Wall St Reblog Want to participate in a short research study ? Help shape the future of investing tools and you could win a $250 gift card! Every investor in Tamarack Valley Energy Ltd ( TSE:TVE ) should be aware of the most powerful shareholder groups. Generally speaking, as a company grows, institutions will increase their ownership. Conversely, insiders often decrease their ownership over time.
In 2002 Ben Baldanza was a Vice President at US Airways when the airline declared that only full fare tickets would earn elite qualifying miles. Baldanza explained that the people who bought discount tickets weren’t offering the kind of loyalty that the airline was looking for. The decision was quickly reversed, and the airline itself soon in bankruptcy. Baldanza later became head of Spirit Airlines, and brought Barry Biffle from US Airways along with him.
Capital market operators have called for the urgent intervention of the federal government in the conflict between the Securities and Exchange Commission (SEC) and Oando Plc . The operators reacted to the outcome of a forensic audit on Oando , which was released by SEC on May 31 , as well as a court injunction restraining SEC from sacking Oando's Group Chief Executive Officer (GCEO), Mr. Adewale Tinubu , and his deputy.
New voting rules from a popular investment adviser mean that some well-known asset managers—including Pimco—are opposing company management at annual shareholder meetings. Typically, proxy season is a springtime ritual during which dissident shareholders voice their frustrations with corporate management, institutional investors side with the CEO, and little is accomplished.