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Billionaire Bollore to leave Vivendi’s board on April 15

“Vincent Bollore, Chairman of the Supervisory Board of media group Vivendi, attends the company’s shareholders meeting in Paris Thomson Reuters PARIS (Reuters) – Billionaire Vincent Bollore, Vivendi’s number one controlling shareholder, will leave the media giant’s board in April in a sign that he is further withdrawing from his businesses, the Paris-based company said on Thursday” reports businessinsider.com. At Vivendi’s last general meeting, he stunned shareholders by telling them he would be replaced by his son Yannick as chairman.Vivendi’s shareholders will be asked to appoint Bollore’s son Cyrille, who runs…

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Gun makers issue reports on risk, but shareholder activists aren’t satisfied

“Last year shareholder activists won a fight to force big American gun makers to study the risks of their businesses and report on whether they were doing enough to make safer products and reduce gun violence” writes Liz Moyer for cnbc.com. The gun makers, resistant to the shareholder demands from the start, struck a defiant tone in their reports, arguing that the only constituency relevant to them are gun owners and supporters of the Second Amendment. Source: cnbc.com

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PG&E to nominate five directors at May shareholder meeting

“(Reuters) – PG&E Corp , the California utility which filed for bankruptcy last month, expects to nominate five of its current directors for re-election at its annual shareholder meeting, it said on Monday” reports businessinsider.com. The company’s shareholder meeting is scheduled for May 21.PG&E faces intense scrutiny from regulators and investors for its role in sparking more than a dozen wildfires over the past two years.”We fully understand that PG&E must re-earn trust and credibility with its customers, regulators, the communities it serves and all of its stakeholders,” PG&E said…

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One of Tesla’s largest investors just increased its stake

“Tesla shareholder Baillie Gifford has just increased its stake in the electric car maker, according to a regulatory filing Friday” writes unknown author for cnbc.com. U.K.-based investment management firm Baillie Gifford & Co., Tesla’s second-largest institutional shareholder, bought 108,931 of the company’s shares during the fourth quarter, according to the filing and data compiled by FactSet. Source: cnbc.com

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Shaftesbury’s biggest shareholder threatens legal action after failing to oust bosses 

“The largest shareholder in West End landlord Shaftesbury is threatening to sue the company after failing to oust its bosses at its annual meeting on Friday” writes Jack Torrance for telegraph.co.uk. Mr Lee, who owns a 26pc stake in Shaftesbury, has been locked in a war of words with its directors for the past year, accusing them of deliberately trying to dilute his stake to prevent a possible takeover attempt in the future. Source: telegraph.co.uk

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Arconic is planning to break itself up and spin off one of its businesses

“Aluminum-parts manufacturer Arconic Inc. said it plans to spin off one of its two main business units after rejecting a $10-billion offer for the entire company and abruptly replacing its chief executive” writes Bob Tita for marketwatch.com. APO, -0.80%  was crafted with input from the company’s largest shareholder, activist hedge fund Elliott Management Corp.Now the board wants to exert greater control over the breakup of the company, a source familiar with the board’s thinking said. Source: marketwatch.com

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Arconic replaces CEO in slap to hedge fund Elliott Management

“Activist hedge fund Elliott Management suffered a setback in its push to sell aluminum company Arconic following an unexpected C-Suite reshuffling that ousted a major Elliott ally, sources told The Post” reports nypost.com. Arconic and the $34 billion hedge fund have been at odds ever since the board rejected an Elliott-orchestrated bid to sell the Arconic to private equity firm Apollo Global Management last month, sources said.The $34 billion hedge fund has until Feb. 15 to launch a proxy fight. Source: nypost.com

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Carlsberg sales up, lifts shareholder payout

“Carlsberg A/S (CARL-A.KO) on Wednesday proposed a bigger payout for shareholders after growing beer sales across all of its major markets in 2018” writes Dominic Chopping for marketwatch.com. For 2019, the company said it will continue to drive organic net revenue growth while maintaining tight cost control and strict cash discipline.It expects to deliver mid-single-digit-percentage organic growth in operating profit in 2019, with capital expenditure at constant currencies expected at around DKK4.5 billion.Analysts polled by FactSet had expected revenue of DKK62.1 billion. Source: marketwatch.com

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Government could become shareholder in UK tech companies, innovation body says

“The Government could in future start taking equity stakes in Britain’s technology startups, the chairman of Innovate UK, Ian Campbell, has said, in a move which could give it more say in where businesses base their operations” writes James Titcomb for telegraph.co.uk. “We are always looking to see what the impact of our funding is,” he said.”Whether it is as a venture capital vehicle or not, I would like every pound of Innovate UK funding to be regarded as highly as venture capital funds.”. When asked whether this meant the Government…

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DSV’s $4 billion offer for Panalpina gets shareholder cold shoulder

“In response to the foundation’s decision not to back the DSV bid, Panalpina said its board “continues to carefully review the situation with its professional advisers”” reports businessinsider.com. The snub of DSV by Panalpina’s top shareholder could mean Andersen must raise his cash-and-shares bid to convince important investors to back the proposal.”We think DSV has already made a full offer for Panalpina, which is difficult to beat,” Jefferies said, pointing out that Kuehne & Nagel last month already panned DSV’s bid as “hopelessly overvalued”. Source: businessinsider.com

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