Eyes on shareholder rules as Walker sets out stall
LONDON, Nov 20 (Reuters) – City of London grandee David
Walker risks opening a Pandora’s box if he turns shareholder
rights into duties and requires investors to explain why they
have sold shares as part of a review of bank pay and practices.
Some experts argue that proposals seeking to make
shareholders responsible for company performance and strategy,
coupled with a requirement for investors to disclose whether and
how they voted, cut to the core of century-old corporate law.
Schroders sees 7 bln stg net inflows, shares rise
LONDON, Nov 10 (Reuters) – UK fund firm Schroders Plc
<SDR.L> attracted net inflows of 7 billion pounds ($11.7
billion) in the third quarter, its strongest performance in
years and underscoring a rush by investors out of less risky but
low-yielding cash holdings.
“This is definitely a turnaround for us as we haven’t had
net flows of this magnitude for many, many years,” Chief
Executive Michael Dobson told Reuters.
Top Cadbury investor says Kraft needs to raise bid
LONDON (Reuters) – A top shareholder in Cadbury said investors in the British confectionery firm would find it hard to turn down an offer of more than 8 pounds a share from U.S. suitor Kraft.
North American food giant Kraft has repeated the cash and shares terms of its original approach, which Cadbury rejected two months ago, and took its bid, which is 4 percent less at around 7.10 pounds after a fall in Kraft shares, directly to Cadbury shareholders.
Lloyds tests waters on cash call, deal seen soon
LONDON, Oct 30 (Reuters) – Lloyds Banking Group <LLOY.L>
could launch one of the world’s largest cash calls as early as
next week after talking to shareholders on Friday to gauge their
appetite for the fundraising.
The part-nationalised lender approached its shareholders on
Thursday, investor sources said, with little time left to get a
rights issue of at least 12 billion pounds ($19.9 billion) done
before the Christmas holiday.
Lloyds gauging appetite for $20 bln cash call
LONDON, Oct 30 (Reuters) – Britain’s Lloyds Banking Group
<LLOY.L> was on Friday talking with key shareholders to gauge
investor appetite for a potential 12 billion pound ($19.9
billion) cash call, one of the biggest on record.
The part-nationalised lender approached its shareholders on
Thursday, investor sources said, and hopes to complete the
bumper rights issue before the Christmas holiday.
Morning Line-Up
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Morning Line-up
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Cadbury investor Mario Gabelli lends credence to Kraft bid
LONDON (Reuters) – Cadbury Plc <CBRY.L> investor Mario Gabelli has given further encouragement to Kraft Foods Inc <KFT.N> that a bid for the British confectioner could succeed if pitched around 820 pence.
Gabelli, whose Rye, New York-based Gamco Asset Management Inc holds a 1.05 percent stake in Cadbury largely through ADRs, told Reuters: “Based on 2009 numbers, our analysts estimate that Cadbury would be worth 890 pence… But we are willing to sell at whatever price is on the table.”
Cadbury investor lends credence to 820p Kraft bid
LONDON, Oct 26 (Reuters) – Cadbury Plc <CBRY.L> investor
Mario Gabelli has given further encouragement to Kraft Foods Inc
<KFT.N> that a bid for the British confectioner could succeed if
pitched around 820 pence.
Gabelli, whose Rye, New York-based Gamco Asset Management
Inc holds a 1.05 percent stake in Cadbury largely through ADRs,
told Reuters: “Based on 2009 numbers, our analysts estimate that
Cadbury would be worth 890 pence… But we are willing to sell
at whatever price is on the table.”
Morning Line-up
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