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PG&E has lost half its value this week as shareholders fear utility’s role in California wildfires

“The plunge in the company’s stock erased $3.7 billion in value on Wednesday as its market cap slid to $13.3 billion from $16.9 billion” writes Thomas Franck for cnbc.com. PG&E’s stock has lost more than half its value this week as shareholders flee the utility amid concerns that its equipment may be partly responsible for the most destructive wildfire in California’s history. Source: cnbc.com Share This:

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SEC members begin examining ‘arcane’ shareholder-voting system

“Securities and Exchange Commission members indicated a willingness Thursday to overhaul the corporate shareholder-voting process, citing complexity that may confuse small investors as well as interest among both Democrats and Republicans in the operations of advisory firms” reports washingtonexaminer.com. On Wednesday, a bipartisan group of senators introduced legislation that would increase federal oversight of Institutional Shareholder Services and Glass Lewis, the top two advisory companies.Among the items the SEC is set to examine is the minimum financial investment that shareholders must make to file a proposal directing actions by company…

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Dell sweetens VMware tracking stock offer with higher price, board seat

“In its previous offer, Dell had offered to exchange each share of VMware tracking stock for 1.3665 common shares with cash consideration of not more than $9 billion” writes Midwest Communications Inc for 95kqds.com. Reuters reported on Tuesday that Dell was working with investment banks to add more cash to its buy back offer.Icahn sued Dell earlier this month and said VMware, the company tracked by DVMT shares, should be worth $300 per share.The tracking stock is tied to an 81 percent economic stake in VMware.Hedge fund manager Carl Icahn,…

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Communicating Your Succession Plan with Customers, Clients, and Shareholders

“Failing to communicate succession plans clearly with clients, workforce, and shareholders can result in internal chaos, loss of current and future business, and decline in stock value” reports hbr.org. Within a year of your retirement, introduce your core team to prospects and clients, and highlight their achievements with the firm.The growth of your business may depend on how well you can ensure clients that the company will be fine under your successor’s leadership.Prospects may have been drawn to the company specifically because they heard about the CEO. So customers planning…

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£46bn Shire and Takeda mega-deal targets completion by January

“Shire and Takeda are one step closer to sealing one of the biggest pharmaceutical mergers in history after announcing a completion date for the deal” writes Tom Stevenson for telegraph.co.uk. However there had been concerns that Takeda shareholders might reject the merger.The Irish and Japanese drugs giants hope to finalise the merger by Jan 8, should shareholders vote in favour of the deal at meetings on Dec 5.The £46bn deal will rank among the top 10 pharma mergers ever and will create a global pharmaceutical powerhouse with close to £22bn in annual sales, roughly equivalent…

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Takeda sets vote date, aims to close $62 billion Shire deal Jan. 8

“Takeda said on Monday it would hold an extraordinary general meeting (EGM) of shareholders to vote on the transaction on Dec. 5” reports businessinsider.com. FILE PHOTO: Takeda Pharmaceutical Co’s logo is seen at its new headquarters in Tokyo Thomson Reuters By Ben Hirschler LONDON (Reuters) – Japan’s Takeda Pharmaceutical will hold an investor vote on its $62 billion acquisition of Shire next month and aims to close the deal on Jan. 8, signaling its confidence in securing the required support.The Japanese company struck its agreement to take over Shire in…

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Proxy advisers push back at DC criticism: ‘We give shareholders a voice’

“Institutional investors routinely follow their advice, which sometimes opposes the views of a company’s existing board and management” reports washingtonexaminer.com. ISS clients are “sophisticated institutional investors who are free to follow our recommendations or not,” the firm countered in its written comments.They also charge that passive investors like BlackRock or Vanguard – who have substantial voting power because they own large swaths of stock – blindly follow their voting recommendations, enhancing the influence of proxy advisers.Companies like Institutional Shareholder Services and Glass Lewis make recommendations on how shareholders should vote…

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At $49 billion company Essilor, employees are the largest shareholders — and the CEO says that’s the best way to do it

“At The Essilor Group, an ophthalmics company based in France, employees are the largest group of company shareholders” writes Shana Lebowitz for businessinsider.com. Holding shares as an Essilor employee not only means that you own a part of the company you work for.If you join the employee shareholders association, Valoptec, you also play a role in making key organizational decisions.Although employee-owned firms are relatively rare, Essilor isn’t the only company where employees are a large group of shareholders.To date, 55% of Essilor’s 67,000 global employees are shareholders, and they own…

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Siemens rewards shareholders amid earnings hit

“However, the majority of industrial divisions posted higher quarterly earnings, leaving overall industrial profit largely flat at EUR2.15 billion” writes Nathan Allen for marketwatch.com. Group earnings were also hit by charges relating to the carve out of Siemens Mobility ahead of the planned merger with Alstom SA (ALO.FR).The German conglomerate said net profit fell to 681 million euros ($780.2 million) from EUR1.28 billion a year earlier.Analysts had expected net profit of EUR737 million on revenue of EUR22.91 billion, according to a FactSet-compiled consensus. Basic earnings per share should be in…

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Takeda CEO confident of investor backing for $62 billion Shire deal

“We don’t have to do this Shire acquisition” reports businessinsider.com. Weber, however, said he was confident he had persuaded Takeda shareholders sufficiently for the company to name an EGM date, without specifying exactly when it would be held.Takeda, which has a market value of around $32 billion, has secured a $30.9 billion bridge loan to help finance the Shire acquisition and some investors are concerned as to how well it will cope with debt repayments. “My assumption always has been there would be more price pressure in the U.S. and…

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