Institutional Shareholder Services, the influential shareholder advisory firm, has recommended that AOL stockholders vote for two of the three board nominees put forward by dissident shareholder Starboard Value.
TORONTO — Agrium Inc won another ringing endorsement just ahead of a crucial shareholder vote after influential advisory firm Glass Lewis on Tuesday advised its clients to back all 12 of Agrium’s board nominees over a slate nominated by dissident investor Jana Partners.
The recommendation from the well-regarded advisory firm is a big boost for Agrium ahead of a shareholder vote on April 9 and follows similar recommendations from smaller firms like U.S.-based Egan-Jones and UK-based Pensions Investment Research Consultants.
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.
(Reuters) - Institutional Shareholder Services is backing two of billionaire investor Carl Icahn's nominees to the board of U.S. drugmaker Forest Laboratories Inc , the influential proxy advisory firm said in a research report. Icahn is waging a proxy fight to elect four directors to Forest's 10-member board at its annual meeting on August 15 after failing in a similar effort last year. ISS recommended that Forest shareholders vote for Icahn nominees Daniel Ninivaggi and Pierre Legault. "As the dissidents have demonstrated a compelling case that change at the board level is needed, votes ...
BOSTON (Reuters) - AOL Inc shareholders vote on Thursday on whether to hold course on the one-time Internet giant's strategy to gradually become an ad-driven media destination or to shake up the company in line with an activist investor's demands. Six months into a battle between existing management and Starboard Value, shareholders will decide whether to keep AOL's existing eight-member board of directors or take on up to three Starboard-backed nominees that the hedge fund says will push for better returns for shareholders. ...
(Reuters) - AOL Chief Executive Tim Armstrong's compensation declined to $3.2 million in 2011 from some $15.3 million in the prior year, according to a regulatory filing. The 41-year-old former Google executive did not receive any stock rewards or options in 2011 and received a base salary of $1 million, which remained unchanged from 2010. The proxy filing also urged shareholders not to vote for the activist hedge fund Starboard Value's slate of board nominees. Starboard, which spun off from Ramius LLC in March 2011, launched a campaign late last year to shake up AOL.