An activist shareholder proposal seeking to press Amazon.com ( AMZN ) to improve the diversity of its board in the wake of sexual harassment allegations against a former executive is expected to come to a vote at the internet giant's annual meeting expected in May...
United Parcel Services Inc. ( UPS ) shares have been on a downward trajectory for most of the month of February, following another lackluster quarter. Most recently, the shipping giant's shares fell on news that Amazon.com ( AMZN ) may launch a delivery service for businesses, a prospect that could eat into UPS's profits...
On June 7th, Jim Cramer and The Deal will host " Corporate Governance 2018," an exclusive gathering of corporate decision makers and their key advisers to discuss the best strategies to meet and master the latest and most critical challenges in managing their companies to maximize shareholder ...
The chipmaker added that it was willing to meet and talk about it, but regulatory and activist-related complications abound...
However, for now, he added, that the fundamentals of U.S. companies are sound, especially following sweeping corporate tax break legislation ... Also, Charles Elson, director of the Center for Corporate Governance at the University of Delaware, noted that it now will be that much cheaper for an activist ...
Corvex Management LP's Keith Meister on Wednesday escalated his effort to drive a sale of Energen Corp. ( EGN ) by nominating a minority-slate of four dissident director candidates to the company's nine-person board. "Today we are nominating four highly-qualified, independent director candidates who will bring fresh perspectives and relevant experience along with a simple mandate—to run the company in the best interests of all shareholders," Meister said in a statement...
Procter & Gamble Co. ( PG ) beat expectations for earnings per share, met key forecasts for organic revenue growth, adjusted its C-Suite pay packages and hiked its share re-purchase program significantly for the rest of fiscal 2018. In short, the iconic packaged goods company did what it needed to do in the second quarter as it moves to welcome activist investor Nelson Peltz to its board March 1...
In a year where some of the biggest names in activism—Nelson Peltz, David Einhorn, and Bill Ackman to name a few — had less-than-stellar returns , a few less-known activist hedge fund managers performed surprisingly well. Leading the pack was sometimes-activist investor Voce Capital Management's Daniel Plants, with 19% returns for the year, according to a person familiar with the situation...
Specifically, Icahn and Deason agreed to work together to install a minority slate of four director candidates to Xerox's board , in an effort Icahn already had been pursuing to oust the document technology company's CEO, Jeff Jacobson. In a joint statement issued together with their group announcement, ...
Activist investor Glenn Welling of Engaged Capital succeeded last year in getting two directors installed onto the board of Benchmark Electronics Inc. ( BHE ) as part of a campaign targeting reforms to the company's working capital management and capital allocation plans. Afterwards, the company installed a new CEO . Its share price has mostly been on an upward trajectory since, trading recently around $30 a share...
Elliott Management's Paul Singer is likely eyeing a March 9 deadline for director nominations at oil and gas company Hess Corp. ( HES ) . That's because the billionaire activist investor is reportedly preparing a new fight with the energy company, pushing it to either remove CEO John B. Hess, or to pressure him into considering a sale of the company. Shares of Hess spiked up 6% in after hours trading on the news, to $45.10 a share...
Proxy season 2017 was busier than ever for activist investors, with more campaigns launched so far this year than for all of 2016. Overall, there were 803 activist campaigns so far, up from 737 for all of 2016, FactSet reports. Boardroom battles that went the distance still favored management. Of 82 proxy fights that were launched in 2017, 30 went to a vote, and 17 went for management...
Broadcom Ltd. ( AVGO ) on Monday, Dec. 4, took its hostile $130 billion bid to buy Qualcomm Inc. ( QCOM ) to the chipmaker's shareholders by launching a total boardroom takeover effort intended to help propel its deal effort. The semiconductor company's boardroom battle was expected as Qualcomm last month said it was rejecting Broadcom's unsolicited offer of $70 in cash and stock. The deal, should it ever be consummated, would represent the largest ever technology combination...
From tax reform to shareholder proposals, a lot is going on on Capitol Hill and at the nation's securities regulator that will impact embattled billionaire Bill Ackman and other activist investors in the months to come. We took a look at the top six Washington issues facing insurgent managers here. 1...
Procter & Gamble Co. ( PG ) is contesting preliminary results issued last week by an independent election inspector that gave dissident Nelson Peltz a narrow lead in his boardroom battle at the iconic American packaged goods company. On Nov. 17, P&G's election inspector IVS Associates determined that Peltz appeared to have won a director fight, the largest proxy war ever, by the narrowest of margins, about 0.0016% of the vote, or 42,780 shares...
Activist investor Jana Partners Barry Rosenstein on Monday launched an activist campaign at Outback Steakhouse owner Bloomin' Brands Inc. ( BLMN ) , suggesting in a securities filing that he may urge the company to consider "exploring a sale" of the business. Bloomin' Brands shares spiked up 12% to $20.84 on the news...
The likelihood that Broadcom Ltd. ( AVGO ) will launch a boardroom battle to take over the board of Qualcomm Inc. ( QCOM ) increased substantially on Monday, Nov. 13. That's because as expected, Qualcomm announced Monday it was rejecting Broadcom's unsolicited $130 billion, including debt, acquisition offer. Last Monday Broadcom offered to buy Qualcomm for $70 a share in cash and stock, in what would become the largest ever technology combination if it were to ever be consummated...
Embattled billionaire activist Bill Ackman vowed to launch another director battle next year at Automatic Data Processing Inc. ( ADP ) if the payroll processor doesn't meet its commitments to shareholders. The insurgent investor made the comments to The Deal shortly after he lost a hard-fought boardroom battle seeking three seats on ADP's 10-person board in a months-long contest that came to a conclusion Tuesday, Nov. 7...
Strategic Governance Advisers, an affiliate of Sard Verbinnen & Co ., is advising ADP. One of SGA's founding partners is Chris Cernich, who was ...
... shareholder returns and shareholder-friendly corporate governance . Nevertheless, the adviser did give Ackman a glimmer of hope in his insurgency ...
Under pressure from Engaged Capital's Glenn Welling, Ruby Tuesday Inc. (RT) on Monday agreed to sell itself to private equity firm NRD Capital for about $335 million. Under the terms of the deal, NRD agreed to buy Ruby Tuesday's stock for $2.40 a share in cash or $335 million, excluding transaction expenses. The purchase price is about 37% over Ruby Tuesday's closing price on March 13, the day before the restaurant chain announced it was evaluating strategic alternatives...
State law, corporate governance , indexing, what does it mean as far driving ... opportunities, choices to become a public or stay a private company.".
