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Apr 7, 2014
via Breakingviews

A field guide to shareholder-friendly activism

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By Richard Beales
The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

The rise of shareholder activism has made it harder to distinguish between different species. Many corporate agitators say they are acting for all investors. Billionaire Carl Icahn’s online mission statement, for instance, touts “a platform from which we can unite and fight for our rights as shareholders and steer towards the goal of real corporate democracy.” Whether that’s true depends largely on the goals and methods used. Breakingviews provides a field guide to the activist animal kingdom.

Apr 7, 2014
via Breakingviews

A field guide to shareholder-friendly activism

Photo

By Richard Beales
The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

The rise of shareholder activism has made it harder to distinguish between different species. Many corporate agitators say they are acting for all investors. Billionaire Carl Icahn’s online mission statement, for instance, touts “a platform from which we can unite and fight for our rights as shareholders and steer towards the goal of real corporate democracy.” Whether that’s true depends largely on the goals and methods used. Breakingviews provides a field guide to the activist animal kingdom.

Apr 7, 2014
via Breakingviews

A field guide to shareholder-friendly activism

Photo

By Richard Beales
The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

The rise of shareholder activism has made it harder to distinguish between different species. Many corporate agitators say they are acting for all investors. Billionaire Carl Icahn’s online mission statement, for instance, touts “a platform from which we can unite and fight for our rights as shareholders and steer towards the goal of real corporate democracy.” Whether that’s true depends largely on the goals and methods used. Breakingviews provides a field guide to the activist animal kingdom.

Apr 2, 2014
via Breakingviews

Virtu IPO blocked by high-frequency trading cloud

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By Richard Beales
The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

It’s a good thing Virtu Financial doesn’t really need to go public. The “technology-enabled market maker” is delaying its initial public offering, according to news reports. While Virtu may be different, too much of what it does sounds similar to the high-frequency trading that’s suddenly in the spotlight.

Apr 2, 2014
via Breakingviews

Virtu IPO blocked by high-frequency trading cloud

Photo

By Richard Beales
The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

It’s a good thing Virtu Financial doesn’t really need to go public. The “technology-enabled market maker” is delaying its initial public offering, according to news reports. While Virtu may be different, too much of what it does sounds similar to the high-frequency trading that’s suddenly in the spotlight.

Mar 26, 2014
via Breakingviews

Zuckerberg grabs at alternate financial reality

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By Richard Beales

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Mark Zuckerberg is liking a lot of deals. Right after spending $19 billion on WhatsApp, the Facebook founder is splashing out $2 billion – and possibly more – in cash and stock on a virtual reality newcomer, Oculus VR. It’s arguably a riskier punt than the messaging app. Both deals also suggest a buy, not build, approach.

Mar 26, 2014
via Breakingviews

Zuckerberg grabs at alternate financial reality

Photo

By Richard Beales

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Mark Zuckerberg is liking a lot of deals. Right after spending $19 billion on WhatsApp, the Facebook founder is splashing out $2 billion – and possibly more – in cash and stock on a virtual reality newcomer, Oculus VR. It’s arguably a riskier punt than the messaging app. Both deals also suggest a buy, not build, approach.

Feb 28, 2014
via Breakingviews

Dan Loeb bids against himself at Sotheby’s

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By Richard Beales
The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Dan Loeb seems to be bidding against himself at Sotheby’s. The Third Point hedge fund activist surprised the auctioneer by nominating three directors to run against the incumbents, even after the firm offered him one uncontested board seat and even acted on some of his gripes.

Feb 28, 2014
via Breakingviews

Dan Loeb bids against himself at Sotheby’s

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By Richard Beales
The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Dan Loeb seems to be bidding against himself at Sotheby’s. The Third Point hedge fund activist surprised the auctioneer by nominating three directors to run against the incumbents, even after the firm offered him one uncontested board seat and even acted on some of his gripes.

Jan 29, 2014
via Breakingviews

Sotheby’s revamps financial science – now for art

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By Richard Beales

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Sotheby’s is revamping its financial science – now for the art. The auctioneer’s stock popped, at least initially, on Wednesday’s news of a $300 million special dividend and new criteria for investment. The plan addresses some aspects of the critique by activist investor Dan Loeb. But governance and broader strategy remain at issue.

    • About Richard

      "Richard Beales joined Breakingviews.com in 2007 from the Financial Times, where he was US markets editor and a Lex columnist. Prior to the FT, he spent more than 10 years as an investment banker, based largely in Hong Kong. He was a director in Citigroup’s mergers team, and before that head of Schroders’ regional project finance group. He has also lived briefly in Sydney, Australia, and began his working life in London at Mars & Co, a management consultancy, in 1989. Richard holds a masters in business journalism from New York University and a degree in biochemistry from St John’s ..."
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