All articles tagged with #proxy fight
Paramount says it will engage in good-faith talks with Warner Bros. Discovery over the Netflix-backed deal, while continuing its $30-a-share all-cash tender offer and planning a proxy fight; WBD has set a seven-day negotiation window, and Paramount argues its offer is superior and will press ahead.
Shares of Norwegian Cruise Line (NCLH) rose about 11% after Elliott Investment Management disclosed a stake above 10%, signaling a potential turnaround and even a proxy fight to push changes; the activist notes underperformance versus peers and hints at leadership and financial-driven strategies as rivals rebound post-pandemic.
Paramount has extended the deadline for Warner Bros. Discovery shareholders to back its all-cash hostile bid to February 20, after CEO David Ellison and backers have been meeting with WBD investors to persuade tendering of shares. Paramount is preparing a proxy fight to elect directors who back its $30-a-share offer (about $108.4 billion enterprise value) and has called for more transparency as WBD plans a spring split, with Paramount even securing a personal guarantee from Larry Ellison to back part of the proposal.
Paramount has sued Warner Bros. Discovery and threatened a proxy fight to push WBD to engage with Paramount’s bid to take Warner Bros. away from Netflix. Backed by billionaire Larry Ellison, the move signals a potential, highly public and costly battle that could reshape the three-way deal dynamics. With WBD’s annual meeting looming in weeks, the outcome hinges on whether WBD will engage or be compelled to disclose information that could sway investors and executives.
Paramount Skydance said it will nominate directors to Warner Bros Discovery’s board to vote against the Netflix deal, launch a proxy fight, and seek disclosure of financial details to help shareholders decide. It also plans to amend WBD bylaws to require shareholder approval for the global networks spin-off and argues its own $30-a-share cash offer plus a larger termination fee is more favorable; Netflix would gain control of key assets under an $82.7 billion deal, while WBD faces potentially costly outcomes if Paramount’s bid or any breakup terms are activated.
Lululemon's founder Chip Wilson is challenging the company's current leadership by nominating new board members, criticizing the company's recent struggles and leadership changes, amid a broader battle for control involving activist investors and rival companies, as the brand faces increased competition and market challenges.
Lululemon founder Chip Wilson has initiated a proxy fight by nominating three independent directors to the company's board, criticizing recent leadership changes and seeking to influence the appointment of a new CEO amid declining shares and increased competition, with support from activist investor Elliott Management.
Nelson Peltz, a hedge fund billionaire and activist investor, claims he played a key role in connecting Elon Musk and Donald Trump, describing himself as a 'matchmaker' between the two. Peltz made these remarks at the CNBC Delivering Alpha conference, where he also criticized Kamala Harris as a 'ridiculous' alternative to Trump. Additionally, Peltz discussed his failed proxy fight to join Disney's board, attributing his loss to index funds' opposition and expressing his willingness to reinvest if Disney's stock price drops. He also criticized Disney's leadership and questioned the focus on diversity in Marvel films.
Nelson Peltz's Trian Fund Management sold its Disney shares for about $1 billion after losing a proxy fight to join Disney's board. Despite the loss, Trian profited from Disney's stock price increase earlier this year. Disney, under CEO Bob Iger, has implemented cost-cutting measures and is focusing on its streaming business, theme parks, and finding a successor for Iger.
Bob Iger faced a tough battle to keep Nelson Peltz off the Disney board, with proxy advisory firm ISS and CalPERS supporting the activist investor. The main issue was Disney's succession process, which had been botched in the past. Peltz's lack of experience in entertainment and controversial statements raised questions about his suitability. Despite Iger prevailing in the proxy fight, speculation about his successor is rife, with internal candidates being considered. Peltz's proxy fight was the most expensive in history, and while he lost, he profited significantly.
Macy's settles its proxy fight with real estate investor Arkhouse by adding two new directors to its board, bringing the company closer to a potential deal to go private. The new directors, Ric Clark and Rick Markee, were Arkhouse nominees and will be part of the committee reviewing Arkhouse's bid to buy the company. The move comes as Macy's struggles with the shift to online shopping and plans to close around 150 of its 500 stores. Arkhouse's bid to take the retailer private differs from past engagements, aiming to give executives time to streamline the business away from the public market.
Activist investor Nelson Peltz discusses his recent loss in a proxy fight against Disney, expressing surprise at institutional investors' decision despite positive feedback. Peltz attributes the loss to "ego" in the room and praises Tesla founder Elon Musk for his lack of ego and willingness to listen. He also hints at future collaboration with former Disney CFO Jay Rasulo.
Disney shareholders voted by a substantial margin to reject activist investor Nelson Peltz's proposal for board seats, re-electing the full slate of 12 board members. Peltz and his firm Trian Fund Management had criticized Disney's board for alleged poor performance and lack of a profitable streaming strategy, but their campaign ultimately failed. CEO Bob Iger secured support from big names like Jamie Dimon and George Lucas, and with the proxy contest over, Disney aims to refocus on growth and value creation.
Disney has successfully defended against activist investor Nelson Peltz's attempt to secure board seats, ending a highly contested proxy battle. The company's current board will remain intact following a shareholder vote, representing a short-term win for Disney but also increasing pressure on the board to deliver results amid industry challenges. Disney also defeated activist Blackwells Capital, and its stock traded lower following the results. Peltz's hedge fund Trian Fund Management had sought to shake up Disney's board, citing shareholder value loss and disappointing studio content, but Disney pushed back, citing progress in turning around its business.
Disney declares victory in a proxy fight as all of its director nominees are elected by shareholders, defeating activist investor Nelson Peltz's campaign to join the board. Peltz's Trian Partners sought to oust two Disney directors but failed to secure enough support. Disney's CEO Bob Iger received 94% of the vote for his board seat, and retail shareholders voted by a margin of about 75% to 25% to support Disney's board. Despite the defeat, Peltz expressed hope for Disney's performance and Trian's impact on the company's focus and governance.