where is that white knight ? no deal would be as good as this VRX deal Ackman will get the vote and this thing will move again once the idiot directors are removed
Artificial outrage!!! Roaaaar!
These idiots won't call a meeting that the long term shareholders haven't said they wanted. Roar!!
Fake news, grrrrr!!
No, wrong again. the proxy advisory firms advise large institutional , hedge funds and mutual funds on how to vote on an issue and provide governance watches - which is where they came down so hard on AGN. They are not proxy solicitors which is what you are saying.
Taking away VRX - the AGN bylaws are as unfriendly to shareholders as possible. And the big boys do not like it. Gallagher is likely to lose his job regardless of VRX
Time will tell.....of course that's the problem VRX has, time. It's not on their side. They were hoping to have this sewn up by their Q2 results but because it wasn't, look what happened. The pressure is mounting. Think of the pile of pooh they will be in if Q3 results announcement comes along before the deal is done. Can you imagine the price drops then? This is why the proxy firms have been engaged, to try to ram up more pressure on AGN. It's not working because AGN knows they have the power, are within the law and have the management strength to ensure AGN is better without VRX. Pear sons roll up strategy however does not have that luxury. He knows it and Ackman knows it.
Ackmans issues, and he will be cleared of any wrongdoing , have nothing to do with the AGN board and Pyotts buddies who need to be replaced. 2 proxy advisory firms saying that you have awful bylaws for shareholders - will have consequences from institutional shareholders
You need a review in corporate law and fiduciary duty because you and predworm have no clue what you are talking about If AGN survives , its directors will not
Pyott and the board did listen to VRX, three times, and they have determined that there is not enough value in what VRX has had to say. According to Pearson, they broke the rules. They always knew they would have to go direct to the shareholders. His words.
Shouldn't AGN shareholders replace entrenched directors who make the most shareholder unfriendly bylaws around ? Lead director around for 25 plus years ? Awful governance
Pyott and the Board have an obligation to listen to VRX. The is not over by a long shot. You are truly misinformed if you think it is. Ackman will get the vote, Ackman - no matter what you think - is not an inside trading guy. Directors will be replaced and the deal will happen. It is called Fiduciary Duty and these directors have violated their duty.
The shareholder in AGN are short term No question about that
This all ends when another more viable firm comes along and picks up AGN. Mark my words. In fact, can anyone weigh in on this...on August 20th they could literally show up in court and say "judge, no need to proceed", we accepted a tender offer from X firm and will proceed with the deal. Case closed ba-buy.
Time to replace this crony, Lead "Independent" Director who refuses to meet with a company that has made an offer. Chairs the governance and comp committees.. Worst bylaws in the country. This entrenched buddy of Pyotts needs to go.
It's all legal my friend. Not long ago, Ackman was decrying the easy take over defences of AGN. he is an idiot. HLF proved that and he even admitted it. Ackman talks about Pyotts conflict...he may as well talk about himself. He is a conflicted shareholder. Even he said at the beginning that he did not want AGN STOCK. He wants VRX stock, his words. Pyott has no obligation to listen to Ackman, none. He is the barbarian at the gate. He admitted he has no interest in AGN. He has no voice, rightly.
As noted by 2 independent proxy advisory firms - AGN has unreasonable rules about shareholder meetings enacted in response to a hostile takeover shareholders have a right to meet Ackman is a shareholder and a rather large one at that so is Paulson Nobody has been charged with insider trading and Pyotts false allegations should not deny shareholders their fundamental right to call a meeting AGN bylaws are bs and directors will be voted out regardless of VRX institutions and hot money own this company not you
The upgrade today pretty much somes it up. Great balance sheet, great pipeline, consistent revenue growth, huge future outlook, a restructuring and buyback to trim some waste, current product portfolio is extremely robust driving growth metrics. Plenty of interest from bigger firms.
Tax inversions are dead so companies like Pfizer, J&J will not look at stricktly foreign domociles any longer. Compaines like AGN are on the short list. For the right price Pyott lets it go IMO. Perhaps $190?