This article was originally published in The Rose Sheet
Minority 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...
Data show Opdivo/Cabometyx combo bests Sutent for overall and progression-free survival and response endpoints in first-line RCC. Exelixis CEO says comparison to Sutent is standard control and allows better comparison to other combo regimens.
ES: Public Company Edition: Fifty biopharma companies launched initial public offerings in the US last year and there have been 52 so far in 2020, including Metacrine, Dyne, Athira and COMPASS.
In an update to stakeholders, the US FDA says regulators can successfully evaluate a firm’s performance, allowing it to eventually get medical software to market in the agency’s Pre-Cert Program.