1. Articles in category: BoardNews

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    1. Breaking News: BB&T and SunTrust are Joining Forces in a $66 Billion Deal That'll Create the US's 6th Largest Bank

      Breaking News:  BB&T and SunTrust are Joining Forces in a $66 Billion Deal That'll Create the US's 6th Largest Bank

      SunTrust Banks and BB&T have agreed to a $66 billion merger that will create the sixth-largest US bank.

      The deal pays SunTrust shareholders 1.295 BB&T shares for each SunTrust share they own, according to a joint statement released Thursday morning. BB& T shareholders will own about 57% of the combined company...

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      Mentions: Merger Bloomberg Bank
    2. Norway Wealth Fund Steps Up Voting Against CEO Pay Packages

      Norway Wealth Fund Steps Up Voting Against CEO Pay Packages

      (Bloomberg) -- Norway’s $1 trillion wealth fund, the biggest of its kind, increased its votes against executive pay packages last year and said it engaged with companies in the auto sector on the use of cobalt. The fund had close to 1,500 “dialogues” with companies last year, but also divested 30 companies due to governance risks. It voted against 7.2 percent of resolutions on executive remuneration, up from 6.9 percent in 2017...

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    3. Dan Loeb Cuts DowDuPont Target as ‘Value Gap’ Lingers Into Split

      Dan Loeb Cuts DowDuPont Target as ‘Value Gap’ Lingers Into Split

      (Bloomberg) -- Activist investor Dan Loeb is trimming his expectations for DowDuPont Inc. just as the chemical giant prepares to break itself into three companies. Last May, Loeb’s Third Point hedge fund said in a letter to investors that the pending split could propel DowDuPont to $92 a share, closing a “value gap” of almost 50 percent. Instead, the shares lost value, and a cooling global economy has tempered Loeb’s view...

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    4. Nordea Slammed by Activist Investor for Poor Results

      Nordea Slammed by Activist Investor for Poor Results

      (Bloomberg) -- The chief executive officer of Nordea Bank Abp, Casper von Koskull, defended management’s efforts to cut costs and improve revenue amid a dressing-down from an activist investor who criticized the lack of profit growth. Net income for the quarter came in about 5 percent below market expectations, though the bank’s net interest income was slightly better than analysts had anticipated. For Christer Gardell, co-founder of Cevian Capital, the result wasn’t good enough...

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      Mentions: stake Bloomberg Bank
    5. Yelp Hires Evercore to Defend Against Activist Push

      Yelp Hires Evercore to Defend Against Activist Push

      Yelp ( YELP +0.4% ) has hired Evercore to defend against a push by activist shareholder SQN , which has urged a look at strategic alternatives including a potential sale, CNBC reports. SQN said last month that implementing its recommendations could result in a stock price of $55-$65, and an immediate sale to private equity would draw $47-$50/share, or higher with strategic bidders. The shares were at $35.66 then, and are at $37.53 now...

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    6. David Tepper’s Appaloosa Hedge Fund just Slammed the Leadership of $50 Billion Drugmaker Allergan, and is Calling for Change

      David Tepper’s Appaloosa Hedge Fund just Slammed the Leadership of $50 Billion Drugmaker Allergan, and is Calling for Change
      • Billionaire David Tepper's Appaloosa LP made a strongly-worded call for change to drugmaker Allergan's board leadership structure on Tuesday.
      • Appaloosa wants Allergan's board to separate the role of chairman and CEO, which today are both held by Allergan's Brent Saunders.
      • In a Tuesday letter, Appaloosa slammed Allergan's executive decision-making, "the record for which has been fraught with ill-considered initiatives and self-inflicted wounds for several years now."..
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    7. Activist Investor Bramson Makes Bid for Barclays Board Seat

      Activist Investor Bramson Makes Bid for Barclays Board Seat

      LONDON (Reuters) - Activist investor Edward Bramson has submitted an application to join the board at Barclays, the British bank in which his fund vehicle Sherborne Investors holds a 5.1 percent stake. Sherborne invested in the lender in March 2018 with a view to making changes in its strategy and improving shareholder returns. Investors will vote at the bank's annual general meeting on May 2 on the proposal...

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    8. Vivendi Dealt Another Blow in TIM Boardroom Battle

      Vivendi Dealt Another Blow in TIM Boardroom Battle

      Telecom Italia’s auditors rejected a request from top investor Vivendi to bring forward a shareholder meeting by a month, as it seeks to replace five directors on the operator’s board. In a statement, auditors said they did not have the necessary powers to convene a shareholder meeting, while confirming it is continuing an investigation into the inner workings of Telecom Italia’s current board, as per Vivendi’s request...

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    9. Tesla is Buying the Battery-Maker Maxwell Technologies

      Tesla is Buying the Battery-Maker Maxwell Technologies
      • Tesla announced Monday that it plans to buy the battery maker Maxwell Technologies.
      • Maxwell, based in San Diego, makes battery components including ultracapacitors and dry electrodes.
      • Battery technology is key for Tesla as it ramps up production and expands its manufacturing presence into China.

      Tesla is buying Maxwell Technologies in a deal that values the battery-maker at $218 million, the two companies announced Monday...

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    10. Halcon Resources: Fir Tree Calls for Sale of Halcón and Appointment of Two Independent Directors

      Halcon Resources: Fir Tree Calls for Sale of Halcón and Appointment of Two Independent Directors

      NEW YORK , Feb. 4, 2019 /PRNewswire/ -- Fir Tree Capital Management LP ("Fir Tree"), manager of certain funds that together have economic exposure to approximately 7.2% of the common stock of Halcón Resources Corporation ("Halcón" or "the Company") (NYSE: HK), today issued an open letter and presentation to the Board of Directors of Halcón (the "Board") urging the Company to work with shareholders to immediately appoint two independent directors to lead a process to sell for cash and/or stock the entire Company and to cut its excessive corporate overhead. The presentation referenced in the letter can ...

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    11. State Street Calls for More Engagement with Shareholders on Culture

      State Street Calls for More Engagement with Shareholders on Culture

      With the Hayne commission final report on Monday expected to tackle remuneration incentives and as leading global investors ramp up focus on culture and governance, the major banks – alongside other companies – will be forced to engage more deeply with institutional investors throughout the year to lower the risk of second strikes on their remuneration reports...

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