TORONTO — The Canada Pension Plan Investment Board, one of the world’s largest pension funds, said it has voted to support Agrium Inc’s board nominees ahead of a shareholder meeting next week, in a blow to activist investor Jana Partners.
The Canadian fertilizer maker and farm products retailer Agrium has been locked in a war of words for months with activist investor Jana Partners LLC, a New York-based hedge fund.
Remember when U.S. hedge fund manager Bill Ackman railed against the cozy corporate culture of the Canadian establishment during his bruising proxy battle to unseat the blue-chip board at Canadian Pacific Ltd. last year?
Recall his lament of how difficult it was to recruit candidates to join his activist campaign because folks were unwilling to “stick their necks out” when his New York-based firm Pershing Square Capital Management LP launched an assault to force the ouster of Fred Green, chief executive of one of this country’s most venerable and underperforming companies.
By Takeover Analyst:In previous articles, I have expressed my bullish outlook on the rail industry. In this one, I argued, frankly, that "railroad stocks are heading skyward". Satiating my interest in railroads with my background in proxy fights, it is interesting to watch the battle going on at Canadian Pacific (CP).
In front of hundreds of investors, the media, and curious observers, hedge fund billionaire Bill Ackman teared up while speaking about his family and the American Dream on Tuesday. It was just a small slice of his massive, three hour presentation on Herbalife, a multi-level marketing health company he started shorting to zero back in December of 2012.
NEW YORK — J.C. Penney’s largest investor and former board member, William Ackman of Pershing Square Capital Management, is selling his nearly 18% stake in the company.
The move to sell 39.1 million shares of the company, announced in a regulatory filing late Monday afternoon, comes two weeks after Ackman resigned from J.C. Penney’s board as part of a deal to resolve an unusually public battle between the activist investor and the struggling department store operator.
From the dull and cold north came??dramatic news this morning.?? The CEO, Chairman of the Board and four other board members quit the Board of CP in the face of almost certain defeat in proxy battle with activist investor Bill Ackman.?? CP is one of Canada?s oldest and bigger??companies, and with competitor, CN, one of ...
By David Hunkar: Canadian National Railway (CNI) and Canadian Pacific Railway (CP) are the major railroads in Canada. Activist investor Bill Ackman of hedge fund Pershing Square Capital Management has initiated a corporate battle to take control of the Canadian Pacific railroad and implement management changes.