By Chris Prentice WASHINGTON (Reuters) – The U.S. Securities and Exchange Commission (SEC) is probing whether financial executives may have broken the rules by tipping off hedge funds ahead of large sales of shares, known as “block trades,” according to a source with knowledge of the matter. The Wall Street Journal first reported the probe …
U.S. SEC is probing Wall Street trades in large blocks of shares Read More »
BOSTON (Reuters) -Investment firm Sachem Head Capital Management is trying to take control of US Foods Holding Corp’s board and has nominated seven directors, arguing that the food distributor’s performance has been lagging its peers. Sachem Head, which owns 8.7% of the company, called the nominations “the last option available” to protect stockholder interests after …
Sachem Head seeks control of US Foods board, nominates seven directors Read More »
LONDON (Reuters) – Investors have ramped up their underweight tech position to its largest in more than 15 years as central bank tightening remained the top risk to global markets in 2022, according to a monthly fund manager survey by BoFA Securities. Cash allocations jumped to their highest level since May 2020, according to the …
BoFA investor survey: Biggest tech underweight position since Aug 2006 Read More »
(Reuters) – South Africa’s Discovery Ltd said on Tuesday it would set up an Asia-focused health insurance technology business in partnership with Hong Kong-listed AIA Group Ltd. Discovery will own 25% of the joint venture, to be called Amplify Health, while AIA will own the rest. (Reporting by Amna Karimi in Bengaluru; Editing by Sriraj …
South Africa’s Discovery, AIA to partner for Asian insurance tech venture Read More »
By Svea Herbst-Bayliss BOSTON (Reuters) – Trian Fund Management, the activist investment firm run by Nelson Peltz, said in a regulatory filing on Monday it has slashed holdings in consumer staples giants Procter & Gamble Co and Mondelez International Inc by more than 90% each. Trian owned 237,384 shares of P&G, which makes Tide detergent …
Activist firm Trian cuts holdings in P&G, Mondelez -filing Read More »
(In fifth paragraph, corrects description of deal from all cash to all stock.) By Svea Herbst-Bayliss BOSTON (Reuters) – Proxy advisory firms Institutional Shareholder Services and Glass, Lewis & Co on Friday told investors in Zendesk to vote against a planned takeover of Momentive Global, the parent of web-based survey portal SurveyMonkey, arguing the deal …
ISS, Glass Lewis urge Zendesk investors vote against Momentive deal Read More »
By David Randall NEW YORK (Reuters) – Singapore state investor Temasek Holdings added new positions in a number of consumer-focused companies during the quarter that ended Dec. 31, including ride-hailing and food delivery company Grab Holdings Ltd, brokerage firm Robinhood Markets Inc and fashion company Rent the Runway Inc, according to securities filings released Monday. …
Temasek adds stakes in Robinhood, other consumer-focused companies Read More »
SAO PAULO (Reuters) – Brazilian shoemaker Alpargatas SA announced a follow-on offering of 37.5 million new common shares and 57.5 million new preferred shares as it looks to raise money to pay for the acquisition of a stake in Rothy’s Inc. At Thursday’s closing price of 26.60 reais per preferred share in Alpargatas, the offering …
Brazil’s Alpargatas announces share offer to pay for Rothy’s acquisition Read More »
DUBAI (Reuters) – The Public Investment Fund, Saudi Arabia’s sovereign wealth fund, will take a controlling stake in interior design and speciality contractor Depa Plc by agreeing to buy 150 million dirhams ($40.84 million) worth of new shares. The deal will allow the PIF to own 55% of the company, but the $480 billion fund …
Saudi sovereign fund PIF to buy controlling stake in Depa Read More »
HELSINKI (Reuters) -Finnish financial group Sampo reported stronger than expected fourth quarter earnings on Wednesday boosted by its core insurance operations, sending its share up more than 2%. The pan-Nordic insurer reported a pretax profit of 1.2 billion euros ($1.4 billion), compared with a loss of 675 million in the same quarter a year earlier, …
Nordic insurer Sampo lifted by strong Q4 earnings Read More »
