Carl Icahn is gearing up for another battle with Michael Dell. The activist investor, who fought Dell when he took his namesake computer company private in 2013, will challenge plans to take it public again. Icahn on Monday disclosed that he has boosted his stake in shares that track Dell Technologies Inc.’s DVMT, +3.01% interest in VMware Inc. VMW, +4.42% to 8.3%...
Embattled pizza chain Papa John’s International Inc. will probably be bought out in the next year, forecasts Kalinowski Equity Research President Mark Kalinowski. The Wall Street Journal reported Monday that Trian Fund Management LP is assessing a possible takeover bid , sending shares surging in after-hours trading. Shares closed Tuesday up nearly 9%...
/PRNewswire/ -- WellCare Health Plans, Inc. announced today it appointed Bobby Jindal, former governor of Louisiana, to its board of directors...
The New York Times Company announced today that Aman Bhutani, President of the Brand Expedia Group at Expedia Group, Inc., has been appointed to its Board of Directors...
The TJX Companies, Inc., the leading off-price retailer of apparel and home fashions in the U.S. and worldwide, announced today that Rosemary T. Berkery has been elected to its Board of Directors....
Symantec Corp. SYMC, -1.15% announced Monday afternoon that it had reached a deal with activist investor Starboard Value LP for new board members. Symantec appointed three new directors, including Starboard managing member Peter Feld, to the board, and said it would negotiate with Starboard for one more member to be named after its annual meeting. Starboard had challenged Symantec by nominating five directors for a vote at the security-software company's annual meeting...
“Founders Evan Spiegel and Bobby Murphy control all of the voting power, making corporate governance a mess,” he wrote. “The recently departed ...
Pentair PLC PNR, +1.14% disclosed Tuesday that activist investor Nelson Peltz, founder of the hedge fund Trian Fund Management LP, has resigned from the industrial manufacturer's board, as of Sept. 10. Peltz became a director in April 2018, which was when the company completed the spinoff of its electrical business, nVent Electric PLC, to its shareholders...
KKR & Co. Inc. (“KKR”) today announced that effective today, Mary N. Dillon has been appointed to the Board of Directors ofKKR. Her appointment will bring the number of independent directors on KKR’s Board to eight out of a total of twelve Board seats...
Verizon Communications Inc. (NYSE, Nasdaq: VZ) today announced the election of Daniel H. Schulman, president and chief executive officer of PayPal Holdings, Inc., to the Verizon Board of Directors, effective September 6. ..
Almost everyone got on board the reform train after the 2008 financial crisis. However, big business, and in particular the biggest banks, slammed the brakes on reforms that threatened to separate senior executives from their money that critics said incentivized excessive risk taking before the crisis...
Sally Beauty Holdings, Inc. , today announced that Kelly Mooney, the former Chief Experience Officer of IBM iX North America, has been appointed to the Board of Directors. Ms. Mooney brings more than twenty years of experience in consulting services with an expertise in integrated marketing, digital experience, e-commerce, mobile and innovation...
Campbell Soup Co. plans to sell its international operations and refrigerated-foods business, abandoning efforts to become a more fresh-oriented company and leaving the door open to a full sale. Campbell plans to divest the two businesses, which bring in $2.1 billion in annual revenue under brands including Bolthouse Farms, Arnott's and Kelsen, according to people familiar with the matter. An announcement could come as soon as Thursday morning...
PRNewswire/ -- Spirit Realty Capital, Inc. ("Spirit" or the "Company"), a net-lease real estate investment trust (REIT) that invests in single-tenant, operationally essential real estate, today announced that Diana Laing has been appointed to its Board of Directors (the "Board") as an Independent Director and Chairperson of the Audit Committee...
Some CEOs are more likely to lay off staff than others. Chief executives who are paid less than their peers are four times more likely to lay off their employees, according to research published this week by the State University of New York at Binghamton. Researchers analyzed data that included CEO pay and layoff announcements made by S&P 500 SPX, -0.04% firms from 1992 to 2014 in the financial services, consumer staples and information technology industries...
In an open letter released Tuesday, Carl Icahn has taken issue with Cigna’s planned acquisition of pharmacy-benefits manager Express Scripts Holding Company. The billionaire activist shareholder called the price tag “ridiculous.” But critics say consumers could also end up overpaying if the deal goes through. Cigna CI, +0.97% announced in March that it planned to purchase Express Scripts ESRX, +1.69% for $54 billion in cash and stock. The deal has a total transaction value of $67 billion...
There’s a three-minute joke about Snap Inc. that Chief Executive Evan Spiegel wants you to hear. It goes like this: Annual shareholder meeting. The first such event for Snapchat’s parent company lasted less than three minutes from beginning to end, and consisted entirely of a company lawyer reading a script on a recording...
--Shares in Vodafone Group rose in late Monday trading after news service Dealreporter said activist investor Elliott has acquired a stake in the telecommunications company...
A profit of about $200 million could be enough to get Carl Icahn to stop fighting Michael Dell. Icahn is unlikely to push Dell Technologies Inc. to sweeten its deal to buy back shares that track Dell’s interest in VMware Inc. VMW, -1.02% , after reaping a paper profit of around $200 million on the tracking stock and VMware’s publicly traded shares, according to people familiar with the matter...
A Silicon Valley money machine soared with the tech boom, but grew greedy and obsessed with winning until its entire culture came crashing down around top executives who embodied its approach. This was no startup looking to “disrupt” a staid industry with a mobile app and a distaste for regulations, though...
The Securities and Exchange Commission is looking to limit whistleblower payouts after doling out tens of millions of dollars in a recent case. The SEC voted 3-2 Thursday to propose a limit limiting whistleblower payouts after an $83 million award in March to three tipsters – the largest payday in the history of the SEC’s whistleblower program—raised concerns that the jackpots may be getting “too large,” according to the proposal...
AmTrust Financial Services Inc. AFSI, -0.68% said Thursday that shareholders approved its plan to be taken private by two New York families and a private-equity firm. The bid was initially challenged by activist investor Carl Icahn, who recently owned as much as a 9.4% stake in the company. Icahn said the first deal was “happening at the wrong price at the wrong time” and was an attempt by the families and firm to manipulate shareholders into voting for a deal that benefits only them...
The new requirement for companies to report how much more their CEOs made than the typical employee may have produced some “oohs” and “aahs,” but that’s about it. If there is anything to glean from all the pay ratio disclosures, it’s that there needs to be more consistency in how they are calculated and reported before they can be useful to investors...
THE HAGUE--Royal Dutch Shell PLC RDSB shareholders voted down Tuesday a proposal requiring the company align its strategy with efforts to limit global warming, signaling support for steps the company has already taken on climate change. The resolution, put forward by Dutch activist shareholder group Follow This, won just 5% of the shareholder proxy vote...