March 1, 1991 |
In rival proxy statements formally launching their campaigns for control of Lockheed Corp., Lockheed management and a competing faction led by Texas investor Harold C. Simmons accused each other of lacking the skills to efficiently lead the giant aerospace firm. The Calabasas-based firm's management, in proxy materials mailed to shareholders Thursday, sought to contrast its performance with that of Simmons-controlled NL Industries, a Houston-based chemical firm that owns 19.8% of Lockheed stock.
May 3, 1994
A major shareholder in Big O Tires Inc. said Monday that the tire products retailer has agreed to demands that it modify a soon-to-be released proxy statement. The shareholder, Kenneth Pavia, is general partner in Balboa Investment Group LP of Newport Beach, a limited partnership that controls 9.6% of the company's shares. On Monday, Big O Tires of Englewood, Colo.
March 13, 2007 |
Billionaire shareholder activist Carl Icahn increased his stake in Motorola Inc. and started a proxy fight for a board seat after demanding that the mobile phone maker return more of its cash to investors. Icahn, who owns 2.5% of the stock, submitted proxy materials for the Schaumburg, Ill.-based company's May 7 shareholder meeting in a regulatory filing. Motorola is reviewing the statement, a spokesman said.
August 11, 2006 |
H.J. Heinz Co. said the California Public Employees' Retirement System, or CalPERS, the largest U.S. public pension fund, would vote its 1.66 million Heinz shares to reelect all 12 members of the company's board. Heinz said CalPERS' support reinforced the food company's position in its proxy fight with investor Nelson Peltz and his Cayman Islands-based hedge fund.
February 16, 1991 |
Lockheed's directors Friday rejected Texas investor Harold C. Simmons' latest bid for seats on the company's board, a move that ensures a second proxy war between the Simmons camp and Lockheed management for control of the aerospace firm. Lockheed's board voted unanimously to rebuff Simmons, who controls NL Industries, a Houston-based chemical company that owns 19.8% of Lockheed. The board was responding to a letter Tuesday from NL President J.
September 1, 2004 |
U.S. mutual fund companies this week gave investors their first-ever look at proxy voting records, illustrating efforts to remove certain corporate chiefs and scuttle some pay packages. Vanguard Group, for example, withheld its votes for Sumner Redstone, chairman and chief executive of Viacom Inc., and his daughter, Shari, as directors at his media empire. The reams of data offer insight into some of the fiercest boardroom battles, such as the effort to oust Michael Eisner from Walt Disney Co.'
June 7, 1989 |
A group that includes former Securities and Exchange Commission Chairman Roderick M. Hills and former U.S. Atty. Gen. Elliot L. Richardson claimed an "overwhelming" victory Tuesday in a bitter fight for control of Oak Industries. However, Oak Chairman E. L. McNeely steadfastly maintained at the company's annual meeting here that it will be at least a week before a vote count is available because of a possible court challenge. In addition to Hills and Richardson, the dissident slate seeking election to the board includes San Diego businessman Daniel W. Derbes, San Diego Economic Development Corp.
October 22, 1993 |
In a move that will almost certainly trigger a grueling proxy fight, ICN Pharmaceuticals Inc. said Thursday that it has set a date for its long-delayed annual stockholders meeting. ICN spokesman Jack Sholl said the meeting, which has been put off for the past five months, is now scheduled for Dec. 15.
November 11, 1990 |
Invoking the cause of corporate democracy, New York investor Martin E. Tash and his backers last month gained control of the board of directors of Gradco Systems Inc. by winning the hearts and minds of shareholders in a contentious proxy fight. Two months earlier at Comprehensive Care Corp., a group including a former company executive from Orange County waged a successful proxy battle, gaining control of the St. Louis-based company's board and ousting the chief executive officer.
October 2, 1993 |
If Carl N. Karcher launches a formal fight for control of the Carl's Jr. fast-food chain, it could be a boon to Southern California's economy--or at least to the region's financial community. Under well-established rules and customs, the warring factions inside the boardroom of Carl Karcher Enterprises Inc. would each hire a cadre of lawyers, investment bankers, proxy solicitation firms and other experts to gather votes from shareholders.