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    1. Korea Set to Crack Down on Chaebols With Corporate Reform Steps - Bnn Bloomberg

      Korea Set to Crack Down on Chaebols With Corporate Reform Steps - Bnn Bloomberg

      South Korea is pushing for its most significant reform of corporate governance since President Moon Jae-in took office, a move that could add transparency to top decision-making at large conglomerates that dominate the economy. The conglomerates, known as chaebols, propelled South Korea’s rise as an export powerhouse...

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    2. CoreLogic Activist Investors Win Three Seats on Company’s Board

      CoreLogic Activist Investors Win Three Seats on Company’s Board

      (Bloomberg) -- The investors pushing for changes at CoreLogic Inc. have won three seats on the board of the data provider after a lengthy battle that has dragged out since June. CoreLogic said in a statement that preliminary tallies show that Cannae Holdings Inc. and Senator Investment Group have won the necessary support for three of their nominees: Steve Albrecht, Wendy Lane and Henry Winship. The statement confirmed an earlier Bloomberg News report...

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    3. Aecom Could Face Repeat Board Fight With Activist Starboard

      Aecom Could Face Repeat Board Fight With Activist Starboard

      (Bloomberg) -- Aecom’s standstill agreement with activist investor Starboard Value expires next week, setting the stage for a potential boardroom battle at the engineering services firm for a second year in a row. The New York-based hedge fund, which owns a roughly 3.7% stake in Aecom, butted heads with the company in June over the appointment of new Chief Executive Officer Troy Rudd. The dispute resulted in Starboard Managing Member Peter Feld resigning from the board in protest...

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    4. Peltz Dusts off Familiar Playbook in Invesco Board Advance

      Peltz Dusts off Familiar Playbook in Invesco Board Advance

      Nelson Peltz wasted little time in choosing his next target in the asset-management industry, grabbing board seats at Invesco Ltd. Just months after Franklin Resources Inc.’s takeover of Legg Mason, a deal he helped engineer, the billionaire activist investor joined Invesco’s board alongside fellow Trian Fund Management co-founder Ed Garden. That’s a typical next step in Peltz’s playbook...

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    5. Michael Klein’s Churchill SPAC Eyes AT&T’s DirecTV Stake

      Michael Klein’s Churchill SPAC Eyes AT&T’s DirecTV Stake

      (Bloomberg) -- A blank-check company backed by former Citigroup Inc. rainmaker Michael Klein is among the parties interested in buying a stake in AT&T Inc.’s DirecTV satellite-television business, according to people with knowledge of the matter. Churchill Capital Corp. IV, which raised $2.07 billion in July, is working with advisers on a potential bid for the asset, the people said, asking not to be identified because the discussions are private...

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    6. Invesco to Cut Compensation Costs With US$200M Savings Plan

      Invesco to Cut Compensation Costs With US$200M Savings Plan

      Invesco Ltd. plans to curtail spending on employee compensation as the asset manager aims to save US$200 million annually by the end of 2022. As much as 60 per cent of the expected savings will come from compensation, executives said Tuesday on a conference call to discuss third-quarter results. About US$150 million of the expense reductions will occur by the end of next year...

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    7. U.K. Investment Firms to Name and Shame Diversity Laggards

      U.K. Investment Firms to Name and Shame Diversity Laggards

      (Bloomberg) -- A U.K. investment-industry group whose members manage 8.5 trillion pounds ($11 trillion) of assets warned it will call out companies that don’t reveal the ethnic diversity of their boards. Nearly three-quarters of the U.K.’s largest companies failed to report the ethnic make-up of their boards at annual shareholder meetings this year, according to The Investment Association...

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    8. Elanco Targeted by Sachem Head in Activist’s Biggest Bet

      Elanco Targeted by Sachem Head in Activist’s Biggest Bet

      (Bloomberg) -- Activist investor Sachem Head Capital Management has made its biggest bet yet, taking a $1.2 billion stake in Elanco Animal Health Inc. to push for changes at the company. The New York-based investment firm, which owns a 9.1% stake in Elanco in stock and options, believes the company is undervalued and underperforming its competitors, including its larger rival Zoetis Inc., according to people familiar with the matter...

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    9. Almost Everyone at SoftBank Thinks Going Private Is a Bad Idea

      Almost Everyone at SoftBank Thinks Going Private Is a Bad Idea

      Inside SoftBank Group Corp., the idea of going private through a buyout has been discussed off and on for at least five years. Almost everyone except founder Masayoshi Son opposes it, people with direct knowledge of the matter said. The reasons are substantial: No one has pulled off a buyout anywhere close to SoftBank’s $130 billion valuation, it’s not clear the company could raise the necessary financing and such a complex deal would prove a distraction for at least a year, the people said...

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    10. Activist Litt Files for Shareholder Vote on Aimco Split

      Activist Litt Files for Shareholder Vote on Aimco Split

      Activist investor Jonathan Litt filed with regulators Tuesday to call a special meeting at Apartment Investment & Management Co. so shareholders can have a say on its plans to split its business into two parts. The move to seek support for a vote comes after Aimco ignored the investor’s request to hold a shareholder vote on the matter, which will see the company broken up into a real estate investment trust and a development company...

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    11. Billionaire Investor Peltz out as Special Advisor at Aurora

      Billionaire Investor Peltz out as Special Advisor at Aurora

      Billionaire investor Nelson Peltz ​resigns as Aurora advisor Billionaire activist investor Nelson Peltz is out as senior advisor to Aurora Cannabis , resigning to pursue other commitments. Peltz first joined Aurora in March 2019 under a senior advisory services agreement where he was tasked with helping the company devise a strategy to marry its cannabis business with the U.S. consumer market...

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    12. ESG Scores Aren’t Enough to Achieve a Net-Zero Future

      ESG Scores Aren’t Enough to Achieve a Net-Zero Future

      (Bloomberg) -- Just like in traditional investing, there are dozens of strategies you can use to be an ESG investor. There are funds that pick the best-rated low-carbon companies, funds that focus on companies with more women on boards, and funds that use a series of ratings and checklists to ensure the stocks they are betting on are “better” than the rest of the market. But is that the best way to get to a more sustainable future...

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    13. KKR Expands Board Diversity at Its U.S.-Based Businesses

      KKR Expands Board Diversity at Its U.S.-Based Businesses

      (Bloomberg) -- KKR & Co. added at least two diverse directors to the board of every company it controls in the U.S., part of a bigger push to expand its focus on underrepresented groups. About 30% of directors on the boards of KKR-owned American companies are now women or ethnic minorities, according to an investor letter obtained by Bloomberg...

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      Mentions: KKR Carlyle stake
    14. Playtech Activist Investor Pitches Idea of DraftKings Making Bid

      Playtech Activist Investor Pitches Idea of DraftKings Making Bid

      (Bloomberg) -- It’s been a tough day for DraftKings Inc., with the online gambling company reporting a steeper-than-expected loss and facing a tax issue that could squeeze it even more. Jason Ader, a longtime casino-industry investor, think he knows what could help. He’s pitching the idea of DraftKings acquiring one of his holdings, the European gaming company Playtech Plc, as a way to shore up profit...

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    15. Elliott Hits PG&E With New $250 Million Claim Tied to Bankruptcy -

      Elliott Hits PG&E With New $250 Million Claim Tied to Bankruptcy -

      (Bloomberg) -- Elliott Management Corp. is claiming PG&E Corp. cost the activist investor $250 million by breaking a promise to help the hedge fund get rights to buy equity in the utility giant during its massive bankruptcy case. PG&E was supposed to help Elliott gain access to as much as $2 billion in equity commitments, as part of a settlement struck in January to resolve competing and sometimes contentious restructuring plans, according to a court filing by Elliott...

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    16. Electronic Arts Executive Pay Draws Fire From Proxy Advisers

      Electronic Arts Executive Pay Draws Fire From Proxy Advisers

      Institutional Shareholder Services is joining calls for Electronic Arts Inc. investors to vote against the video-game maker’s pay plan, citing “significant concerns” about a special round of stock awards. Electronic Arts executives previously received special equity awards for fiscal 2018 that haven’t yet vested, raising questions about the necessity of the latest payouts, the proxy adviser said in a report...

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    17. Activist Investor Rosenfeld Seeks Seat on Canaccord Board - BNN Bloomberg

      Activist Investor Rosenfeld Seeks Seat on Canaccord Board - BNN Bloomberg

      Canaccord Genuity Group Inc., Canada’s largest non-bank brokerage, is expected to add activist investor Eric Rosenfeld to its board next month. Rosenfeld, chief executive officer of New York-based investment firm Crescendo Partners LP, is one of two new independent directors nominated for election to Canaccord Genuity’s board at the firm’s annual investor meeting on Aug. 6. He holds 1.36 million shares of Canaccord Genuity, about 1.3% of the firm, according to regulatory filings...

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    18. Ted Baker Faces Investor Revolt Over Executive Pay, Times Says

      Ted Baker Faces Investor Revolt Over Executive Pay, Times Says

      (Bloomberg) -- Ted Baker Plc is facing a revolt against controversial plans to increase executive pay as the company fights for survival, the Sunday Times reported. Institutional Shareholder Services Inc. recommended that investors vote down the retailer’s remuneration policy at its annual general meeting next week, the paper reported. The advisory firm says the company’s decision to increase executive salaries and bonuses is not justified...

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      Mentions: ISS Bloomberg Bonuses
    19. Activision CEO's US$30 Million Pay Opposed by Pro-Labor Investor

      Activision CEO's US$30 Million Pay Opposed by Pro-Labor Investor

      CtW Investment Group, a pro-labor group, is urging shareholders of the video-game company Activision Blizzard Inc. to oppose the pay package of Chief Executive Officer Bobby Kotick following job cuts last year. Kotick, who’s led Activision for about three decades, has received about US$30 million in compensation annually over the past few years, regulatory filings show. The vote is set for June 11...

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