Corporate governance - Vigil

Twenty years ago, private equity (PE) firms seeking to exit sold their portfolio companies to another company in the same industry or organized an IPO. Nowadays, 40 percent of PE exits occur through secondary buyouts (SBOs), transactions in which a PE firm sells a portfolio company to another PE firm. The rise of SBOs has elicited concerns among PE investors (the limited partners with stakes in private equity funds): Does the rise of SBOs mean that PE firms have run out of investment ideas? Do SBOs create or destroy value for investors? Our paper, On Secondary Buyouts, forthcoming in the Journal of Financial Economics, provides answers to these questions.

"Why was I chosen? The government clearly wanted to bring a breath of fresh air and change in how Hydro-Québec viewed itself"

On September 28 and October 1, 2015, the Delaware Court of Chancery issued decisions in Caspian Select Credit Master Fund Limited v. Gohl, C.A. No. 10244-VCN and In re Zale Corporation Stockholders Litigation, C.A. No. 9388-VCP. On October 2, 2015, the Delaware Supreme Court decided Delaware County Employees Retirement Fund v. Sanchez, No. 702. The outcome for the director defendants in each case differed: the claims against the Zale directors were dismissed, the claims against directors in Caspian largely survived at the pleading stage, and the claims against the directors in Sanchez, where the Chancery Court had granted the defendants’ motion to dismiss, were reinstated when the Supreme Court reversed.

DuPont named Edward Breen chief executive, removing his interim tag and appointing an outsider who investors expect will bring major changes to the agriculture-and-chemicals conglomerate.

Wall Street paychecks are expected to drop for the first time in four years as financial firms reel from a choppy 2015, according to a closely watched survey from consulting firm Johnson Associates Inc.

We are pleased to share Shearman & Sterling’s 2015 Corporate Governance & Executive Compensation Survey of the 100 largest US public companies. This year’s Survey, the 13th in our series, examines some of the most important governance and executive compensation practices facing boards today and identifies best practices and merging trends. Our analysis will provide you with insights into how companies approach governance issues and will allow you to benchmark your company’s corporate governance practices against the best practices we have identified.

A trio of opinions from the Delaware Supreme Court, each authored by Chief Justice Leo E. Strine, Jr., has reaffirmed Delaware’s deference to the business judgment of disinterested corporate decisi...

EVANSVILLE, IN--(Marketwired - November 06, 2015) - On Nov. 5, 2015, the Vectren Corporation (NYSE: VVC) board of directors selected board member Jean L. Wojtowicz as the company's next lead director, subject to her reelection at the company's May 24, 2016, annual shareholders meeting. Assuming her reelection, Wojtowicz would assume...

Valeant’s plunging stock has put the squeeze on CEO Michael Pearson. Pearson was forced to sell 1.3 million Valeant shares Thursday to repay a $100 million personal loan he had secured from Goldman...