Tag Archives: shareholder activism

Locking up the vote

Special Report: Compensation, composition, communications ... with the 2017 proxy season looming for most issuers, it’s time to get a handle on the trends and tactics that will win the day for one side or the other
By Diane Peters
December 16th, 2016

On the eve of a special shareholders’ meeting last May by Taseko Mines Ltd. (TSX:TKO), activist shareholder Raging River Capital LP threw in the towel. The firm, created for the sole purpose of lobbying Taseko to replace two directors and … Continue reading

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Proxy season: Pressure on all sides

Navigating the demands and potential landmines set out by activists, shareholders and regulators makes proxy season a challenge. In 2016, along with activism and proxy battles, two other issues—say-on-pay, and board composition and diversity—will tell much of the story
By John Greenwood
December 14th, 2015

When Denison Mines Corp. (TSX:DML) announced plans to acquire Fission Uranium Corp. (TSX:FCU) back in July, all seemed set to go. The boards of both companies approved the transaction, the regulators seemed happy and there was just the matter of … Continue reading

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Board offsite as shareholder activism boot camp

Instead of waiting for a shareholder activist attack, boards should use strategic retreats to look at themselves through an activist lens—and then take steps to be ready if the real thing occurs
By Beverly Behan
December 18th, 2014

Boards that find themselves in the crosshairs of a shareholder activist spend inordinate amounts of time and money developing a defensive strategy and putting it into play. Yet, by the time a shareholder activist comes knocking, it may already be … Continue reading

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First you plan, then you pivot

Diversity, transparency, advance notice, notice and access, say-on-pay, voting infrastructure—they could be keywords, they’re certainly trending as the latest tools and regulations for issuers to master to keep pace with activists in proxy season
By Paul Brent
December 16th, 2013

Rising shareholder activism in recent years along with new policies and proposals from regulators has transformed the process of preparing for the proxy season from a dry routine to a dynamic, constantly changing exercise. As the calendar turns to 2014 … Continue reading

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The best defence

What are the hot-button risk issues facing companies today? How should you deal with them? Our survival guide has got you covered
By Susan Mohammad
September 16th, 2013

It was a summer of unexpected calamity in Canada, from west to east. Who could have predicted an oil-filled train would derail, slam into the town of Lac-Mégantic, Que., and ignite, killing 50 people, leveling a swath of buildings and … Continue reading

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Year of the buyback

Surplus cash, cheap debt and antsy shareholders looking for a return have companies hot on their own stock
By Mark Anderson
June 18th, 2013

Even if your company hasn’t done one—yet—you have to know share buybacks are all the rage. Over the last year Royal Bank, Bank of Montreal and CIBC all announced that they would be implementing share buyback programs and, in May, … Continue reading

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Barrick vote symbolic—and then some

The impact of its shareholders’ massive say-on-pay vote rejection of new co-chair John Thornton’s huge bonus deal doesn’t end with Barrick Gold. Boards across Canada will be feeling it, too
By Jim Middlemiss
June 18th, 2013

Every AGM and proxy season has its seminal, defining moment—the shot across the bow that sends a message not to just one board, one set of directors, one company, but to every board and every director in the land. This … Continue reading

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Director PROTIP: action beats reaction

Shareholder activism is on the rise. No surprise there. What is news is that, in scrambling proactively to address anything that might make them activist targets, boards are starting to change how they’re built and how they operate
By Mark Anderson
April 14th, 2013

For the past 10 months, Calgary-based fertilizer giant Agrium Inc. (TSX:AGU) has been the focus of a very public proxy war with New York hedge fund Jana Partners, which had sought to replace five of Agrium’s 13 board members with … Continue reading

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Fracking faces the future

It took less than a decade for hydraulic fracturing to transform the calculus of the oil and gas industry. What will happen now that the eyes of activists, regulators and shareholders are fixed upon it?
By Susan Mohammad
February 25th, 2013

Few technologies have transformed an industry or become an economic game changer the way advancements in the hydraulic fracturing process, or “fracking” has. In under a decade, fracking has made vast reserves of natural gas and oil previously uneconomical to … Continue reading

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Let them see you sweat

Think like an activist...be prepared...know your shareholders...earn their vote...expect the unexpected. These days, when it comes time for proxy season and your annual AGM, a little paranoia goes a long way
By Paul Brent
December 20th, 2012

Proxy season used to be a straightforward, no-drama exercise for Canadian issuers. True, it’s been a while since information and opinions traveled a one-way street from company to shareholder, when issues and director slates were put up for vote and … Continue reading

Posted in Features, Winter Report | Tagged , , , , , , , , , , ,

New rules of engagement

In this age of shareholder activism, some investors are demanding that public company boards, and not just executives, engage and communicate with shareholders. Proceed with caution
By Chaya Cooperberg
December 18th, 2012

One of the most dominant corporate governance trends to grab the headlines in 2012 was the rise in engagement between boards and shareholders. It was an active proxy season, with boards across the public company landscape challenged by investors. The … Continue reading

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