Institutional Shareholder Services’ recommendation that Towers Watson & Co. investors vote against the proposed merger with Willis Group Holdings Plc is legitimizing short-term shareholder activism, ValueAct Capital Management said. The report encourages “bumpitrage,” which is where shareholder activists purchase the …
American International Group Inc. Chief Executive Officer Peter Hancock dismissed activist investor Carl Icahn’s proposal to split the company into three insurers, saying a division would limit earnings diversity and reduce the value of some tax assets. The stock declined …
Peter Hancock may have met his hardest challenge yet. Since Hancock took over as chief executive officer of American International Group Inc. last year, Warren Buffett’s Berkshire Hathaway Inc.’s new commercial insurer raided AIG for talent. The integration of two …
Stewart Information Services Corp. is being targeted by activist Phil Goldstein, who is urging a sale of the property title insurer and seeking control of its board. Goldstein’s Bulldog Investors has amassed more than 5 percent of Stewart Information and …
Ebix Inc., a software supplier to the insurance industry, is being targeted by activist investor Barington Capital Group LP, which is seeking talks to nominate additional board members. Barington suggested four independent director nominees including the activist fund’s founder, James …
