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    1. Third Point Cuts United Technologies Stake After Opposing Raytheon Deal

      Third Point Cuts United Technologies Stake After Opposing Raytheon Deal

      BOSTON: Hedge fund Third Point LLC said on Tuesday that it recently cut its investment in United Technologies Corp , becoming the second activist hedge fund to sell shares after the company announced a merger with Raytheon Co. that the funds said they would not support. The New York-based firm sold 480,000 shares of United Technologies stock during the second quarter, cutting its holding by 7 percent to 6 million shares, according to a regulatory filing made on Tuesday...

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    2. Ex-Nissan Chairman Ghosn Indicted on Aggravated Breach of Trust Charge

      Ex-Nissan Chairman Ghosn Indicted on Aggravated Breach of Trust Charge

      TOKYO: Japanese prosecutors indicted former Nissan Motor Co Chairman Carlos Ghosn on Monday on a charge of aggravated breach of trust, a Tokyo court said, bringing a fourth charge against him on the day his detention period was set to expire. Ghosn's lawyers filed a request for bail shortly after the latest indictment, which comes after authorities arrested him on April 4 for the fourth time, on suspicion he enriched himself by a total of US$5 million at Nissan's expense...

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    3. Hedge Fund Appaloosa Unimpressed by Allergan Board Promises

      Hedge Fund Appaloosa Unimpressed by Allergan Board Promises

      REUTERS: Activist investor Appaloosa LP responded to proposed concessions from the board of Allergan Plc by saying it had done everything "except what needs to be done" and calling on other investors to take further "disruptive" steps to change the company. The hedge fund, led by billionaire David Tepper, has been pressing Allergan since last year to separate the roles of CEO and chairman or potentially sell or merge the company...

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      Mentions: Allergan Appaloosa
    4. Diversity in the 'Man Cave': Boardrooms Gain Women as Minorities Lag

      Diversity in the 'Man Cave': Boardrooms Gain Women as Minorities Lag

      In America's corporate boardrooms, diversity is making uneven progress - women increasingly are pulling up a chair while racial and ethnic minorities still rarely get seats at the table. Twenty-seven per cent of new directors at companies in the Russell 3000 Index were women during 2016-2018, up from 21 per cent in the previous three-year period, according to estimates by ISS Analytics in an analysis for Reuters News...

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    5. Explainer: What Misconduct is Nissan's Ghosn Accused Of, and How did it Come to Light?

      Explainer: What Misconduct is Nissan's Ghosn Accused Of, and How did it Come to Light?

      Japan was shocked by news that Nissan Motor Co. Chairman Carlos Ghosn, who was widely respected for rescuing the car maker from near bankruptcy, was arrested on Monday for alleged financial misconduct. Nissan said that Ghosn, who is also chairman and CEO of Renault and chairman of Mitsubishi Motors, would be fired from his post as Nissan chairman on Thursday...

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    6. Campbell Heirs to Vote for Own Board, Third Point Calls Move a 'Stunt'

      Campbell Heirs to Vote for Own Board, Third Point Calls Move a 'Stunt'

      Campbell heirs to vote for own board, Third Point calls move a 'stunt' close breaking news Business Campbell heirs to vote for own board, Third Point calls move a 'stunt' Campbell Soup Co said on Wednesday that four key shareholders, all descendants of the company's former chairman John Dorrance, have formally aligned themselves against hedge fund Third Point LLC's plans to oust the embattled soupmaker's entire board...

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    7. Third Point Urges Campbell Shareholders to Vote for its Nominees

      Third Point Urges Campbell Shareholders to Vote for its Nominees

      REUTERS: Activist investor Daniel Loeb's Third Point LLC on Friday urged Campbell Soup Co's shareholders to vote in favor of the hedge fund's nominees. Third Point, which has launched a proxy fight to replace the American food company's 12-member board, unveiled a slate of nominees last week. Advertisement Third Point owned a 5.65 percent stake in Campbell as of Sept. 6, according to Reuters data...

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    8. Icahn calls for new leadership at Xerox

      Icahn calls for new leadership at Xerox

      Icahn calls for new leadership at Xerox close breaking news Business Icahn calls for new leadership at Xerox Activist investor Carl Icahn on Tuesday called for new leadership at Xerox Corp , the maker of printers and copiers, a day after he named four nominees to the company's board of directors. FILE PHOTO: The logo of Xerox company is seen on a building in Minsk, Belarus, March 21, 2016. REUTERS/Vasily Fedosenko/File Photo 2 related media assets (image or videos) available.

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    9. VEON Names Former Xerox CEO Ursula Burns as Chairwoman

      VEON Names Former Xerox CEO Ursula Burns as Chairwoman

      FRANKFURT: VEON named former Xerox chief Ursula Burns as its chairwoman on Monday, as the telecoms operator undertakes corporate governance reforms and a makeover as a global online services company. Alexey Reznikovich, VEON's long-serving chairman, will remain on the board as a representative of LetterOne Investment, the company formerly known as VimpelCom said...

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    10. Activist Jana Cashes out of Whole Foods Following Amazon Deal

      Activist Jana Cashes out of Whole Foods Following Amazon Deal

      REUTERS: Activist investor Jana Partners LLC cashed out of its position in Whole Foods Market Inc, a regulatory filing showed on Wednesday, after the upscale grocer agreed to be acquired by Amazon.com Inc in a US$13.7 billion deal last month. Jana, which was Whole Foods' second-largest shareholder with an 8.2 percent stake, made a profit of over US$300 million on the sale, according to Reuters calculations...

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      Mentions: Whole Foods Amazon
    11. Elliott releases private letters after Arconic CEO's departure

      Elliott releases private letters after Arconic CEO's departure

      REUTERS: Activist hedge fund Elliott Management released the private letter written by Arconic Inc's former chief executive, Klaus Kleinfeld, which consequently led to his resignation, and their response to the letter and Arconic's statement on April 17. Elliott said late on Wednesday that Arconic had created a "public frenzy" for further information and that it had no choice but to make the letter and their response public.

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    12. SEC Advisory Committee to Question Snap's Transparency for investors

      SEC Advisory Committee to Question Snap's Transparency for investors

      An investor committee that advises the U.S. Securities and Exchange Commission will next week review if Snap Inc's decision to deny shareholders voting rights might also reduce the social media company's public disclosures on executive pay and other governance matters, the head of that committee told Reuters on Wednesday...

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    13. Exclusive: Wall Street Lawyer Jay Clayton Emerges as Trump’s Top SEC Choice

      Exclusive: Wall Street Lawyer Jay Clayton Emerges as Trump’s Top SEC Choice

      A BOSTON/WASHINGTON: Wall Street lawyer Jay Clayton, who has worked on high-profile initial public offerings such as Alibaba Group, is a leading candidate to head the U.S. Securities and Exchange Commission in the Trump administration, two sources familiar with the matter said on Tuesday. Clayton is a partner at Sullivan & Cromwell who specializes in public and private mergers and offerings, an area that requires expertise on complex securities regulations and corporate governance...

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    14. Icahn Regulatory Role Gives Activist Investors Strong Washington voice

      Icahn Regulatory Role Gives Activist Investors Strong Washington voice

      International Business Icahn regulatory role gives activist investors strong Washington voice U.S. chief executives, already wrestling with a steady flow of activist investors in their board rooms, face a newly challenging landscape now that the loudest voice of the bunch will have the ear of the next president and his securities' rule makers...

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    15. Samsung to Unveil Shareholder Return Plans Amid Calls to Split Company

      Samsung to Unveil Shareholder Return Plans Amid Calls to Split Company

      SEOUL: Samsung Electronics Co Ltd said it will disclose plans to boost shareholder value on Tuesday: a move that comes amid pressure from U.S. fund Elliott Management to split the company in two and provide more in payouts. The U.S. activist hedge fund, which owns 0.6 percent of Samsung, called on the South Korean tech giant in October to divide itself into a holding vehicle for ownership purposes and an operating company, as well as pay out 30 trillion won (US$26 billion) in a special dividend...

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    16. Race-Track Rivalry Moves to Boardroom as VW Brands Battle for Electric Car Jobs

      Race-Track Rivalry Moves to Boardroom as VW Brands Battle for Electric Car Jobs

      A FRANKFURT/HAMBURG: Just as Porsche and Audi have fought for supremacy on the race track, the Volkswagen brands are now locked in a cut-throat battle to develop and manufacture the next generation of electric cars at a group embroiled in the "Dieselgate" scandal. Volkswagen Group denies that the kind of internal rivalry that it encouraged at the Le Mans 24 hour race is getting out of hand in the boardroom...

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