From Bloomberg News | Northbrook-based insurer Allstate told a proxy advisory firm that Chief Executive Officer Thomas Wilson’s pay last year was justified as it braced for a vote on compensation.
Inside these posts: Shareholder vote
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Alberto shareholders OK sale to Unilever
Shareholders of Alberto-Culver Co., the maker of beauty products such as VO5 and Noxzema, have approved the company’s $3.7 billion takeover by consumer products maker Unilever NV, the companies said on Friday.
The company also said it and Unilever have received a second request for information from the Department of Justice, which is reviewing the deal. Get the full story »
Dynegy shareholders turn back Blackstone
Private equity firm Blackstone Group lost its $602 million bid to buy power producer Dynegy Inc. after failing to win shareholder support in the face of opposition from the two largest shareholders.
Dynegy said it planned to end the deal Tuesday and would look for other buyers, including the two shareholders — billionaire Carl Icahn and hedge fund Seneca Capital. Icahn has said he may bid for Dynegy if the Blackstone bid failed. Get the full story »
Oct. 18, 2010 at 10:56 a.m.
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Filed under: Chicago executives, Investing, Retail, Stock activity J.C. Penney adopts rights plan to thwart Ackman
J.C. Penney’s board approved a “poison pill” designed to fend off potential takeover threats after hedge fund manager William Ackman acquired one-sixth of the retailer. The company’s shares fell 3 percent on the news. Get the full story »
United shareholders approve Continental merger
United CEO Glenn Tilton, left, and Chicago Mayor Richard Daley at a press conference on the United-Continental merger on May 4, 2010. (José M. Osorio/Chicago Tribune)
Chicago-based United Airlines shareholders on Friday overwhelmingly voted to approve a deal to combine with Continental to form the world’s biggest airline.
Meanwhile in Houston, Continental shareholders also gave the merger a thumbs up.
Shareholders of United parent UAL Corp. met in Elk Grove Township on Friday morning to vote on the $3 billion stock swap. The companies expect the deal to close in the next two weeks. Get the full story »
United-Continental to keep Cleveland operations
United and Continental Airlines agreed on Monday to maintain a hub in Cleveland for at least five more years, as Ohio Attorney General Richard Cordray ended his antitrust investigation of the mega-merger.
The announcement clears one of the last remaining roadblocks to the tie-up, which will create the world’s largest carrier. The Justice Department, which had been expected to provide the closest scrutiny of the deal, concluded its antitrust probe last month.
United and Continental shareholders will vote on Friday to formally approve the financial union of the two airlines. The deal is slated to close on Oct. 1, when Continental CEO Jeff Smisek will become chief executive of the new United. Get the full story »
Hewitt sets date for vote on Aon merger
Hewitt Associates Inc. on Wednesday established a special meeting date of Sept. 20 for its shareholders to consider its almost $5 billion merger with Aon Corp. and Alps Merger Corp., its wholly owned subsidiary. Get the full story »
