Aon plc and Willis Towers Watson announced that two leading proxy advisory firms have recommended that shareholders vote in favor of the companies’ proposed combination. Institutional Shareholder Services Inc. (ISS) said the strategic rationale of the merger is sound. AON …
Six U.S. senators on Wednesday introduced a bill that would require the U.S. securities watchdog to directly regulate firms such as Glass, Lewis & Co and Institutional Shareholder Services, which advise investors on how to vote in corporate elections. The …
Delta Lloyd swiftly rejected a demand from top shareholder Highfields Capital to postpone a vote on a 650 million euro ($706 million) rights issue the Dutch insurer says is the only way it can comply with new European capital requirements. …
Highfields Capital Management LP, the largest shareholder in Delta Lloyd NV, will vote against the Dutch insurer’s plan to raise 650 million euros ($706 million) in a rights offer it called “unnecessary.” “Their actions are so detrimental to shareholders, and …
Towers Watson & Co. shareholders should vote against an $8.9 billion merger with Willis Group Holdings Plc even after the insurance broker increased the offer amid a backlash from investors, proxy adviser Glass Lewis & Co. said in a report. …
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 …
Willis Group Holdings plc said it was “disappointed” that Institutional Shareholder Services last week recommended Tower Watson shareholders reject the proposed merger with Willis. “[W]e are disappointed with their conclusion that Towers Watson shareholders should not support the merger. We …
Towers Watson & Co. investors should reject a planned merger with insurance broker Willis Group Holdings Plc, proxy advisers Institutional Shareholder Services and Glass Lewis & Co. said. The consulting firm’s holders should seek improved merger terms, or “the better …
PartnerRe Ltd. investors should vote against a planned merger with rival reinsurer AXIS Capital Holdings Ltd., proxy adviser Glass Lewis & Co. said in a recommendation that’s a victory for hostile bidder EXOR SpA. “The liquidity, certainty and immediate premium …
Aspen Insurance Holdings Ltd. investors should reject plans from hostile bidder Endurance Specialty Holdings Ltd. to expand their company’s board, proxy adviser Glass Lewis & Co. said in a report. “Endurance has failed to make a compelling case for Aspen …
