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Exxon Activist Reveals High $30 Million Cost of Boardroom Battle

BNN Bloomberg

(Bloomberg) -- Waging a boardroom battle at Exxon Mobil Corp. comes with a hefty price tag, as first-time activist investor Engine No. 1 is finding out. The San Francisco-based hedge fund said in a regulatory filing this week that it expects its proxy fight at Exxon to cost roughly $30 million. While that isn’t an unusually high number for a fight of this magnitude, it does amount to more than half of the current value of Engine No. 1’s $54 million stake in the largest U.S. oil and gas producer...

Mentions: Hedge Fund Proxy Fight stake