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    1. Boeing Board Faces New Investor Showdown Despite Share Rally

      Boeing Board Faces New Investor Showdown Despite Share Rally

      Boeing Co.’s board is back on the hot seat ahead of the planemaker’s annual meeting Tuesday, as investors ponder a new rebuke for company leadership. A powerful pension fund, the California State Teachers’ Retirement System, pledged to vote against Boeing’s three longest-serving outside board members, including Chairman Larry Kellner...

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    2. Shell Asks Investors to Vote Against Activist Climate Resolution

      Shell Asks Investors to Vote Against Activist Climate Resolution

      (Bloomberg) -- Royal Dutch Shell Plc’s board has urged shareholders to reject a climate resolution filed by Dutch activist investor Follow This in favor of its own energy transition plan, which the company will put to a vote next month. The Anglo-Dutch major said that the Follow This resolution, which asks Shell to set and publish targets consistent with the goals of the Paris climate agreement, is “redundant” given its own “more comprehensive strategy,” according to a company notice...

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    3. Activists Get Their Moment in Japan With $20 Billion Toshiba Bid

      Activists Get Their Moment in Japan With $20 Billion Toshiba Bid

      (Bloomberg) -- The surprise takeover bid for Toshiba Corp. is a palpable demonstration of the growing influence in corporate Japan of activist investors, who have gone from largely impotent onlookers to kingmakers in the space of just a few years. The offer from CVC Capital Partners, while still in the early stages, comes just weeks after Toshiba Chief Executive Officer Nobuaki Kurumatani lost a landmark shareholder vote, forcing an independent investigation into alleged issues with voting at its annual general meeting last year. That loss has piled pressure on Kurumatani, who barely won re-election at last year’s meeting and is ...

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    4. Exxon Activist Reveals High $30 Million Cost of Boardroom Battle

      Exxon Activist Reveals High $30 Million Cost of Boardroom Battle

      (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...

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    5. Japan's Most Famous Activist Investor Steps Up Takeover Battle With Carlyle - Bnn

      Japan's Most Famous Activist Investor Steps Up Takeover Battle With Carlyle - Bnn

      (Bloomberg) -- Japan’s most famous activist investor jumped back into the spotlight in 2021, taking on a global private equity giant over one company and scoring a lucrative exit at another. Yoshiaki Murakami has been locked in a battle with Carlyle Group Inc. over energy and environmental firm Japan Asia Group Ltd., pushing the investing behemoth to double its takeover price and then trumping that offer...

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    6. Exxon Is Said to Be in Talks With D.E. Shaw Over New Directors

      Exxon Is Said to Be in Talks With D.E. Shaw Over New Directors

      (Bloomberg) -- Exxon Mobil Corp. is expected to announce board changes as soon as Tuesday, and talks are continuing with investor D.E. Shaw & Co. that may lead to additional director nominations in the weeks ahead, according to people familiar with the matter. D.E. Shaw met with representatives from the oil giant on Friday and presented a list of potential directors, the people said, asking not to be identified because the discussions are private...

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    7. Marathon Oil Shrinks CEO Pay 25% While Aiming for Emissions Cuts

      Marathon Oil Shrinks CEO Pay 25% While Aiming for Emissions Cuts

      (Bloomberg) -- Marathon Oil Corp. took a rare step among independent shale explorers by cutting executive compensation and boosting anti-pollution targets. Such measures have become increasingly common among the top tier of major oil companies as management teams seek to allay investors concerned about environmental impacts, social issues and corporate governance...

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    8. AT&T Holds Exclusive Talks to Sell DirecTV Stake to TPG

      AT&T Holds Exclusive Talks to Sell DirecTV Stake to TPG

      (Bloomberg) -- AT&T Inc. is holding exclusive talks to sell a significant stake in DirecTV to private equity firm TPG, the latest stage of a monthslong push to unload at least part of the struggling pay-TV business, according to a person familiar with the matter. A potential deal is weeks away, and the talks could still fall apart, said the person, who asked not to be identified because the deliberations are private...

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    9. Paid Sick Time Becomes Key Issue for Investors This Proxy Season -

      Paid Sick Time Becomes Key Issue for Investors This Proxy Season -

      (Bloomberg) -- A group of investors including Domini Impact Investments and Trillium Asset Management are pressing retailers and restaurant operators to provide more information about the paid sick leave they provide for their workers, citing their heightened risk of contracting Covid-19. Letting employees quarantine and recover at home -- while receiving pay -- will help companies prevent outbreaks and store closures, the group said in a statement on Thursday...

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    10. Vanguard to Push Companies on Racial Diversity Next Year

      Vanguard to Push Companies on Racial Diversity Next Year

      (Bloomberg) -- Vanguard Group Inc. said it plans to vote against company directors who fail to push for greater racial and gender diversity on their boards. The money manager, which oversees $6.3 trillion, acknowledged that corporations are in the early stages of developing their boardroom diversity strategies, and that regional differences and regulations need to be considered...

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    11. Are Exxon’s New Emissions Targets Enough for BlackRock?

      Are Exxon’s New Emissions Targets Enough for BlackRock?

      (Bloomberg Opinion) -- It is possible, of course, that Exxon Mobil Corp.’s Monday-morning announcement of new emissions targets has nothing to do with the recent arrival of an activist shareholder calling for a more sustainable strategy at the oil major. Exxon took the trouble to say “the plan is the result of several months of detailed analysis,” and, with 2020 targets about to be yesterday’s news, an update of some sort was due in the near future...

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    12. S&P Global’s $39 Billion Deal Marks Data’s Dominance in Markets

      S&P Global’s $39 Billion Deal Marks Data’s Dominance in Markets

      (Bloomberg) -- S&P Global Inc. grew out of a firm that provided bond ratings and railroad data. IHS Markit Ltd. traces its roots to a British barn and an effort to offer prices for the opaque world of credit derivatives. Now, the second-biggest acquisition of 2020 will combine the two into a data Goliath that tracks everything from the price of wheat to the movements of hundreds of thousands of ships criss-crossing the world’s oceans...

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    13. Hong Kong Doctor Is Cleared in Massive Securities Probe

      Hong Kong Doctor Is Cleared in Massive Securities Probe

      (Bloomberg) -- Hong Kong’s securities watchdog has failed to secure convictions in its largest-ever investigation. Cho Kwai-chee, founder of Hong Kong’s largest private health-care group, was cleared of charges to defraud the stock exchange and investors in financial brokerage firm Convoy Global Holdings Ltd., where he had been a director. He was also found not guilty of publishing false statements in Convoy’s annual accounts...

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    14. Korea Set to Crack Down on Chaebols With Corporate Reform Steps - Bnn Bloomberg

      Korea Set to Crack Down on Chaebols With Corporate Reform Steps - Bnn Bloomberg

      South Korea is pushing for its most significant reform of corporate governance since President Moon Jae-in took office, a move that could add transparency to top decision-making at large conglomerates that dominate the economy. The conglomerates, known as chaebols, propelled South Korea’s rise as an export powerhouse...

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    15. CoreLogic Activist Investors Win Three Seats on Company’s Board

      CoreLogic Activist Investors Win Three Seats on Company’s Board

      (Bloomberg) -- The investors pushing for changes at CoreLogic Inc. have won three seats on the board of the data provider after a lengthy battle that has dragged out since June. CoreLogic said in a statement that preliminary tallies show that Cannae Holdings Inc. and Senator Investment Group have won the necessary support for three of their nominees: Steve Albrecht, Wendy Lane and Henry Winship. The statement confirmed an earlier Bloomberg News report...

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    16. Aecom Could Face Repeat Board Fight With Activist Starboard

      Aecom Could Face Repeat Board Fight With Activist Starboard

      (Bloomberg) -- Aecom’s standstill agreement with activist investor Starboard Value expires next week, setting the stage for a potential boardroom battle at the engineering services firm for a second year in a row. The New York-based hedge fund, which owns a roughly 3.7% stake in Aecom, butted heads with the company in June over the appointment of new Chief Executive Officer Troy Rudd. The dispute resulted in Starboard Managing Member Peter Feld resigning from the board in protest...

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    17. Peltz Dusts off Familiar Playbook in Invesco Board Advance

      Peltz Dusts off Familiar Playbook in Invesco Board Advance

      Nelson Peltz wasted little time in choosing his next target in the asset-management industry, grabbing board seats at Invesco Ltd. Just months after Franklin Resources Inc.’s takeover of Legg Mason, a deal he helped engineer, the billionaire activist investor joined Invesco’s board alongside fellow Trian Fund Management co-founder Ed Garden. That’s a typical next step in Peltz’s playbook...

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    18. Michael Klein’s Churchill SPAC Eyes AT&T’s DirecTV Stake

      Michael Klein’s Churchill SPAC Eyes AT&T’s DirecTV Stake

      (Bloomberg) -- A blank-check company backed by former Citigroup Inc. rainmaker Michael Klein is among the parties interested in buying a stake in AT&T Inc.’s DirecTV satellite-television business, according to people with knowledge of the matter. Churchill Capital Corp. IV, which raised $2.07 billion in July, is working with advisers on a potential bid for the asset, the people said, asking not to be identified because the discussions are private...

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    19. Invesco to Cut Compensation Costs With US$200M Savings Plan

      Invesco to Cut Compensation Costs With US$200M Savings Plan

      Invesco Ltd. plans to curtail spending on employee compensation as the asset manager aims to save US$200 million annually by the end of 2022. As much as 60 per cent of the expected savings will come from compensation, executives said Tuesday on a conference call to discuss third-quarter results. About US$150 million of the expense reductions will occur by the end of next year...

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