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World Bank shareholders back $13 billion capital increase

“Its commercial-terms lender, the International Finance Corp, will get $5.5 billion paid-in capital, and IBRD also will get a $52.6 billion increase in callable capital” writes unknown author for cnbc.com. The World Bank’s shareholders on Saturday endorsed a $13 billion paid-in capital increase that will boost China’s shareholding but bring lending reforms that will raise borrowing costs for higher-middle-income countries, including China.The hard-fought capital hike, initially resisted by the Trump administration, will add $7.5 billion paid-in capital for the World Bank’s main concessional lending arm, the International Bank for Reconstruction…

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BRF shareholders with 1/3 stake agree on next board of directors

“BRF shareholders will vote on the election of new board members on April 26” writes Midwest Communications Inc for 95kqds.com. BRF shares jumped almost 10 percent on Wednesday on the news that he accepted the invitation to chair the board.Key shareholders Tarpon Investimentos and pension funds Petros and Previ, and current BRF Chairman Abilio Diniz agreed to elect Parente, as well and Francisco Petros, Walter Malieni and Flavia Buarque to serve two years on the board, BRF said. Source: 95kqds.com Share This:

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Qualcomm is reportedly laying off as many as 1,000 employees as part of a $1 billion cost savings plan

“$80 billion chipmaker Qualcomm began layoffs on Wednesday as part of an effort to reduce its spending by $1 billion, the company confirmed” writes Becky Peterson for businessinsider.com. Though it looked like the acquisition might go through, the entire deal was called off after President Trump issued an executive order preventing Broadcom from buying Qualcomm on the grounds of national security.Still, while the deal failed, it appears that Qualcomm is following through on its commitment to shareholders to cut costs.As of September 2017, Qualcomm employs 33,800 people in both full…

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Hammerson ditches takeover bid for Intu

“At 0712 GMT, shares in Hammerson were up 2.9% at 508 pence, while shares in Intu were down 6.6% at 194.70 pence” writes Adam Clark for marketwatch.com. Intu added that its board will meet to consider Hammerson’s request that it not convene a shareholder meeting to vote on the proposed deal.Hammerson has notified Intu’s board of the withdrawal of its recommendation, but the deal will still be voted on by its shareholders.Hammerson said earlier on Wednesday that it has withdrawn its recommendation to shareholders to vote in favor of its…

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Informa, UBM shareholders approve £3.9 bln deal

“The merger will result in Informa shareholders owning 65.5% of the enlarged company, with UBM shareholders owning the remainder, according to Informa, which said the deal is expected to complete in the second quarter of 2018” writes Adam Clark for marketwatch.com. The offer, originally disclosed in January, leaves UBM shareholders with 1.083 new Informa shares and 163 pence in cash for each UBM share held.Informa PLC (INF.LN) said Tuesday that its 3.90 billion pound ($5.58 billion) offer for rival business-to-business events organizer UBM PLC (UBM.LN) has been approved by the…

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Stricken Noble Group seeks to reappoint founder Richard Elman to the board

“The founder of commodities trader Noble Group could be in line for a shock return to the board after the stricken company revised its rescue plan” writes Jon Yeomans for telegraph.co.uk. Noble said today the new plan would raise the stake for shareholders to 15pc. It now has the backing of more than 75pc of creditors for the restructuring, which must still go to a vote of shareholders.The company infuriated shareholders earlier this year when it unveiled a plan that would see a group of its biggest creditors take a…

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Unilever faces shareholder revolt over executive pay

“Unilever faces a stand-off with shareholders over executive pay next month, after two influential shareholder advisory firms urged investors to reject the consumer goods giant’s proposals” writes Matthew Lynn for telegraph.co.uk. Unilever is attempting to swap its ‘base salary’ for a consolidated ‘fixed pay’ structure, which would mean it could hand larger pay rises and bonuses to its executives.While Unilever’s efforts to simplify its pay structure were likely to be “welcomed by shareholders, the principal concern raised is that it comes at a price”, it said. Source: telegraph.co.uk Share This:

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Disney Forced Into Takeover Offer for Sky by U.K. Authority

“The decision may disappoint some Sky shareholders expecting Disney to be forced into a higher mandatory offer” writes Joe Mayes for bloomberg.com. Hedge fund shareholders of Sky including Polygon Global Partners LLP had called for a mandatory bid for Sky by Disney at a higher price than the Fox offer.That’s the same price offered by billionaire Rupert Murdoch’s Fox to Sky shareholders in 2016 for the stake it doesn’t already hold.In a statement, Sky advised shareholders to take no action on the Takeover Panel decision. Source: bloomberg.com Share This:

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Salesforce paid $6.86 billion to buy MuleSoft in its biggest deal ever — but MuleSoft shareholders are suing to stop the deal

“But according to some MuleSoft shareholders, the deal price may not reflect the true value of the company” writes Becky Peterson for businessinsider.com. Without that information, the lawsuits claim Mulesoft shareholders cannot assess their company’s “intrinsic value” and make a “fully-informed decision” about whether to tender their shares. Source: businessinsider.com Share This:

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Carl Icahn now faces a proxy fight at Newell Brands

“An activist investor launched a proxy fight against Newell Brands on Wednesday, blasting a recent truce that Icahn recently struck with the Hoboken, NJ-based maker of Graco strollers, Sharpie pens and Rawlings baseball gloves” reports nypost.com. The company also said Starboard has “no plan” and criticized the hedge fund for launching an “expensive and disruptive” proxy fight. Source: nypost.com Share This:

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