This article was originally published in The Rose Sheet
Executive SummaryMinority shareholder group is seeking an audience with Wella's Supervisory Board to address its request for an additional resolution proposing appointment at the May 13 annual general meeting of special representative to seek damages from Procter & Gamble. Representatives for the shareholders claim that Wella has thus far declined to address the resolution request. The group, which claims P&G's acquisition of Wella and subsequent licensing agreement for Wella consumer products violated German takeover law, also proposes a resolution barring P&G from voting at the meeting. P&G asserts the efforts of the shareholders are aimed at securing a higher buyout price for their stock, and maintains the acquisition complied with German laws. The U.S. consumer products giant purchased Wella last year for $5 bil., offering shareholders €65 for preference shares and €92.25 for voting stock. The minority group holds 20% of Wella shares...
You may also be interested in...
Sanofi seeks to delay decision clearing path for Mylan's Lantus biosimilar; says it should be able to get rehearing based on Federal Circuit's ruling that PTAB judges were not constitutionally appointed.
First Circuit reverses dismissal of direct purchasers' suit alleging improper listing of patent on device drive mechanism delayed competition; district court to decide if this constitutes antitrust violation.
Brands unfairly attacked by powerful influencers could raise the subject with the US Federal Trade Commission, which is asking for comments on its “Endorsement Guides."