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In February, Bombardier’s board approved the expansion of the company’s stock-option plan to increase the number of shares available for its employees
Medivation Inc (MDVN.O) said on Friday its board rejected an unsolicited $9.3 billion takeover proposal from Sanofi SA (SASY.PA), saying the offer undervalued the company and its pipeline of oncology drugs.
Dan Loeb's Third Point LLC has turned bullish on the stock market, flipping from a net short to gobbling up shares of companies in the middle of deals, he told his investors in a quarterly letter.
Valeant Pharmaceuticals is planning sweeping changes to its board of directors, as it moves to set a new tone at the top of a company under fire from politicians and investors for its management and drug-pricing practices.
[On April 21, 2016], the National Credit Union Administration (NCUA) became the first of six federal regulatory agencies to repropose the long-awaited bonus compensation rule that will apply to banks, asset managers, broker-dealers, and other financial institutions. [1] The issuance follows an earlier joint proposal released in April 2011 to establish limitations on the timing—but not the size—of bonus payouts.
Critics of hedge funds often label hedge funds as greedy, corrupt, and highly compensated villains who disrupt and pose a threat to financial markets and force corporations to change to policies that destroy firm value. Proponents of hedge funds view them as informed traders who improve market quality and corporate governance. Despite these opposing views, the hedge fund industry has continued to grow at an astounding pace. According to an estimate by Hedge Fund Research, Inc. (HFR) assets in the industry increased from $39 billion in 1990 to about $3 trillion in 2015. Moreover, hedge funds now own a larger fraction of the US stock market with percentage ownership increasing from 3% in 2000‒2003 to 9% during 2008‒2012.
Chipotle Mexican Grill Inc. is coming under fire for its board makeup as it tries to bounce back from disease outbreaks that scared off customers.
The announcement came as Facebook announced a tripling in its quarterly profit to $1.5 billion, with sales up 52 percent.
Yvan Allaire and François Dauphin: The activities of shareholder activists should concern governments, pension funds or other institutional investors who prioritize a long-term investment horizon
As monetary policy hits the buffers, policymakers blame big companies
Valeant Pharmaceuticals International Inc. has made mistakes and been too aggressive in the past in dramatically boosting the price of some of its drugs, the company’s outgoing chief executive is expected to tell a Senate committee Wednesday.
Toronto lawyer says competition to the Ontario Retirement Pension Plan would foster innovation in the pension sector and help ensure administration costs are kept low
Newly won board seats at Yahoo and Marvell are just the latest achievements for a fund that has become one of the busiest activist investors.
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Quebec pension fund’s divestment spells trouble for former Xstrata chief
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Institut sur la gouvernance (IGOPP)
April 28, 2016 10:02 AM
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From Japan Today comes an interesting column by Yvan Allaire and Francois Dauphin: Now foreign investors, holding over 30% of their shares, are unrelenting in their pressure for Japanese companies to adopt American-style governance. New governance codes have been written and Japanese stock exchanges are pushing for their implementation. Foreign money managers and institutional investors stand to benefit from changes in the ethos of Japanese companies which would make them more like American companies in their devotion to shareholder value creation. That may be the inevitable outcome of a globalized financial market but Japanese promoters of this new governanc
Starboard Value LP is riding high.
The Supreme Court’s 2015 decision in Omnicare Inc. v. Laborers District Council Construction Industry Pension Fund is an extended exercise in corporate discourse theory. Omnicare’s registration statement for a public offering under the Securities Act of 1933 stated the company’s belief that its marketing practices to certain kinds of pharmacies were lawful. Later the government decided that they were not, and took legal action against the company, imposing sizable sanctions.
Danish billionaire Kjeld Kirk Kristiansen has announced that his 37-year-old son, Thomas, will succeed him as vice chairman of toy maker Lego A/S.
Yahoo added four new directors to its board in a settlement with activist investor Starboard Value, the company announced Wednesday.
The head of a brokerage industry watchdog says he will leave behind at least one piece of unfinished business when he retires this year: improving access to data so that regulators can more quickly halt problem brokers, and investors can avoid them.
Valeant Pharmaceuticals is planning sweeping changes to its board of directors, as it moves to set a new tone at the top of a company under fire from politicians and investors for its management and drug-pricing practices.
Convenience store king isn’t the first chairman to fight for company control
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