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BUSINESS
August 2, 2013 | By Andrea Chang
So much for "best and final proposal. " A little over a week after Michael Dell warned that he wouldn't sweeten his bid for Dell Inc., the company founder -- on the brink of losing a shareholder vote to take the company private -- has done just that. On the morning of a special shareholders meeting at headquarters in Round Rock, Texas, the company announced that Michael Dell, along with investment firm Silver Lake, had increased the purchase price by a dime to $13.75 a share.
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BUSINESS
July 28, 2013 | By Ronald D. White
Emulex Corp. in Costa Mesa designs and makes chips that help data move faster through computer servers and storage networks. The company's Ethernet and Fibre Channel products have been built into the server and storage products of such well-known companies as Dell Inc., Intel Corp., Cisco Systems Inc., Hewlett-Packard Co., Oracle Corp. and IBM Corp. Fibre Channel is a rival networking standard to Ethernet for transmitting data between computer devices. The company, founded in 1979, said in its fiscal third-quarter financial report that its products can be found somewhere in the data centers "of nearly all of the Fortune 1000" companies.
BUSINESS
July 18, 2013 | By Andrea Chang
Dell Inc. has postponed a shareholder vote on its $24.4-billion buyout plan, a sign that not enough investors were on board with founder and Chief Executive Michael Dell's bid to take the company private. The PC maker delayed the vote Thursday shortly after it began a special meeting of shareholders in Round Rock, Texas, where the company is based. Dell released a short statement saying no vote was taken on the proposed transaction before the meeting adjourned. Many large investors had signaled their opposition to the plan in the days leading up to Thursday's gathering.
BUSINESS
July 18, 2013 | By Andrea Chang
Dell Inc. has postponed a shareholder vote on its $24.4-billion buyout plan, a sign that not enough investors were on board with founder and Chief Executive Michael Dell's bid to take the company private.  The PC maker delayed the vote Thursday shortly after it began a special meeting of shareholders in Round Rock, Texas, where the company is based. Dell released a short statement saying no vote was taken on the proposed transaction before the meeting adjourned. Many large investors had signaled their opposition to the plan in the days leading up to Thursday's gathering.
BUSINESS
July 12, 2013 | By Hugo Martin
A merger between US Airways and American Airlines, creating the nation's largest air carrier, has taken another step forward with the approval of a majority of US Airways shareholders. About 99% of US Airways Group shareholders who voted Friday supported the merger with American's parent company, AMR Corp. The vote was not surprising as it was US Airways that first proposed the merger after AMR Corp. filed for bankruptcy in 2011. "This approval is a major milestone on our path to completing the merger, and we continue to make excellent progress overall thanks to the focused efforts of the dedicated representatives from both companies," said Doug Parker, chairman and chief executive of US Airways and incoming chief executive of the combined company.
BUSINESS
June 26, 2013 | By Andrea Chang, Los Angeles Times
Japanese telecom giant SoftBank Corp. got shareholder approval for its mammoth takeover of Sprint Nextel Corp., giving America's No. 3 wireless carrier ammunition to take on industry leaders Verizon Wireless and AT&T. The $21.6-billion deal for a majority stake in Sprint is expected to enable the company to speed up the rollout of its high-speed 4G LTE service in new markets around the country. That should help it attract new customers, analysts said. "This is exactly what Sprint needs," said Jeff Kagan, a technology industry analyst.
BUSINESS
June 25, 2013 | By Salvador Rodriguez
Sprint shareholders approved a $21.6-billion acquisition by SoftBank on Tuesday, bringing an end to the takeover drama involving Dish Network Corp., which had also made a play for the No. 3 U.S. carrier. About 98% of shareholders voted to approve the deal, which will pay them either $7.65 per share for the stock they now hold, or give the same number of shares of new Sprint common stock. The deal will give SoftBank 78% ownership of Sprint. “The transaction with SoftBank should enhance Sprint's long-term value and competitive position by creating a company with greater financial flexibility," Sprint Chief Executive Dan Hesse said in a statement . PHOTOS: The 10 biggest tech gadget fails Sprint said it expects the Federal Communications Commission to approve the deal early next month.
BUSINESS
June 12, 2013 | By Meg James, Los Angeles Times
News Corp. has moved closer to its historic breakup that is expected to test whether investors share Chairman Rupert Murdoch's confidence that there is a solid future for newspapers. On Tuesday, shareholders approved measures that will allow Murdoch's sprawling media empire to be cleaved into two separate publicly traded companies. The most profitable assets - Fox News Channel, the Fox broadcast TV network, Fox regional sports networks, FX and the 20th Century Fox movie studio - will form 21st Century Fox Inc. The publishing assets, including the Wall Street Journal, Times of London, New York Post, the Australian, HarperCollins book publishing house and several Australian television properties, will form a separate company.
BUSINESS
June 12, 2013 | By Jessica Guynn, Los Angeles Times
SAN FRANCISCO - Facebook Inc. Chief Executive Mark Zuckerberg, grilled by shareholders unhappy about the slumping stock price, took pains to defend the company he founded. With the stock trading nearly 37% below its offer price of $38, Zuckerberg fielded a litany of angry comments from investors at the company's annual meeting Tuesday, when the shares fell 30 cents, or 1.2%, to $24.03. The tenor of the shareholder meeting - Facebook's first since its rocky initial public offering in May 2012 - showed just how far he has to go in convincing Wall Street that the prospects for Facebook's future are bright.
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