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    1. Elon Musk Accused of Breaking Law While Buying Twitter Stock

      Elon Musk Accused of Breaking Law While Buying Twitter Stock

      SAN FRANCISCO (AP) — Elon Musk’s huge Twitter investment took a new twist Tuesday with the filing of a lawsuit alleging that the colorful billionaire illegally delayed disclosing his stake in the social media company so he could buy more shares at lower prices. The complaint in New York federal court accuses Musk of violating a regulatory deadline to reveal he had accumulated a stake of at least 5%...

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    2. Calstrs to Vote Against Boards of Companies Failing on Diversity

      Calstrs to Vote Against Boards of Companies Failing on Diversity

      (Bloomberg) -- The California State Teachers’ Retirement System will vote against board directors and corporate proposals at companies deemed to have inadequate environmental, social and governance goals. Calstrs, the second-largest U.S. pension fund, will oppose entire board slates at firms that don’t have at least one female director during this year’s proxy season, according to a statement Wednesday...

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    3. Gamestop Chairman Cohen Discloses Stake in Bed Bath & Beyond

      Gamestop Chairman Cohen Discloses Stake in Bed Bath & Beyond

      (Bloomberg) -- RC Ventures, an investment firm started by GameStop Corp. Chairman Ryan Cohen, disclosed a large stake in Bed Bath & Beyond Inc. and is pushing the company to explore selling itself. The 9.8% stake puts Cohen among the retailer’s five biggest shareholders. Cohen, also a co-founder of pet supply retailer Chewy Inc., urged Bed Bath & Beyond to spin off or sell its baby products business, according to a letter sent to the company’s board Sunday...

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    4. Activist Investor Bluebell Calls for New Glencore Coal Structure

      Activist Investor Bluebell Calls for New Glencore Coal Structure

      (Bloomberg) -- Activist investor Bluebell Capital Partners has asked Glencore Plc to consider a radical new structure for its coal business to turn itself from a “disliked stock” into a top pick for investors targeting sustainability. Glencore should create a Coal NewCo, splitting its capital into A and B shares, according to a letter sent by Bluebell to the company, a copy of which was reviewed by Bloomberg...

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    5. Activist Investor Cevian Builds Stake in Vodafone

      Activist Investor Cevian Builds Stake in Vodafone

      (Bloomberg) -- Activist investor Cevian Capital AB has built a stake in British telecommunications giant Vodafone Group Plc, people familiar with the matter said. The Swedish investment firm has been in talks with Vodafone officials in recent months as it pushes the carrier to improve performance, the people said, asking not to be identified because the information is private...

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    6. Activist Investor Blackwells Capital Pushes Peloton to Fire CEO

      Activist Investor Blackwells Capital Pushes Peloton to Fire CEO

      (Reuters) -Activist investor Blackwells Capital LLC wants exercise equipment maker Peloton Interactive Inc. to fire its chief executive and consider selling itself to a fitness or technology company, two sources familiar with the matter said on Sunday. The pandemic turned Peloton which offers stationary bikes and treadmills with livestreamed workouts from popular instructors into one of the market's hottest stocks, but the company's stock price has plummeted 84% in the last year...

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    7. What CEOs are Really Saying When They Lash Out Against 'woke' America

      What CEOs are Really Saying When They Lash Out Against 'woke' America

      "Woke" probably isn't the first adjective that comes to mind when describing Corporate America. But some CEOs are wearing their non-wokeness as a badge of honor. This week, when BlackRock CEO Larry Fink defended his firm's efforts to hold companies accountable for their environmental and social impact, he included a nod to his critics who've accused him of forcing a liberal agenda on businesses. "It is not a social or ideological agenda," he wrote in his closely watched annual letter to clients...

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    8. Kohl’s Said to Get $9 Billion Bid Backed by Investor Starboard

      Kohl’s Said to Get $9 Billion Bid Backed by Investor Starboard

      (Bloomberg) -- A group backed by activist hedge fund Starboard Value LP is offering about $9 billion for retailer Kohl’s Corp., according to people familiar with the matter. The offer for Kohl’s from parties led by Acacia Research Corp. is $64 per share in cash, according to two people familiar with the matter, who asked not to be identified because the information was private. That’s a 37% premium to the department store chain’s closing price of $46.84 on Friday...

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    9. Countryside Agrees Deal with Activist, CEO Steps Down

      Countryside Agrees Deal with Activist, CEO Steps Down

      (Bloomberg) -- Countryside Properties Plc Chief Executive Officer Iain McPherson is stepping down just as the U.K. homebuilder reaches an agreement with an activist investor. Its shares slumped. The firm reached a deal with Browning West, that includes the appointment of partner Peter Lee to its board. The Los Angeles-based hedge fund has built a stake of almost 9.6% in Countryside and has pushed for a shake-up at the company...

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    10. The SEC Should Examine Oil CEOs With Pay Tied to ESG Metrics, Elizabeth Warren Says

      The SEC Should Examine Oil CEOs With Pay Tied to ESG Metrics, Elizabeth Warren Says

      (Bloomberg) -- Fossil fuel companies should face probes on whether they’re using “loophole-ridden” environmental, social and governance goals to boost executive pay while contributing to environmental destruction, Senator Elizabeth Warren said, adding to her calls to rein in CEO compensation...

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    11. Activist Investor Elliott Management Takes Stake in Builder Taylor Wimpey

      Activist Investor Elliott Management Takes Stake in Builder Taylor Wimpey

      (Bloomberg) -- Activist investor Elliott Investment Management called on Taylor Wimpey Plc to shake up its management, blaming the homebuilder’s lagging share price on “the collapse in investor confidence in the company’s leadership in recent years.” In a letter to Taylor Wimpey’s board, the U.S. fund said it is one of the company’s top five shareholders and wants at least two new independent directors to be appointed. It is also pushing for a new committee to be formed to advise on operations...

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    12. Novartis Cuts Uneasy 20-year Ties to Roche With $20.7 Billion Voting Stake Sale

      Novartis Cuts Uneasy 20-year Ties to Roche With $20.7 Billion Voting Stake Sale

      (Reuters) -Novartis AG said on Thursday it would sell its nearly one-third voting stake in Roche back to its cross-town rival for $20.7 billion, disentangling the two competitors that had been linked by the investment for more than two decades. The deal extricates Roche from ownership ties to a major rival with strategic vetoing power, though it has however kept a passive role in the face of powerful Roche family shareholders...

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    13. Icahn Escalates Southwest Gas Feud by Launching Tender Offer

      Icahn Escalates Southwest Gas Feud by Launching Tender Offer

      (Bloomberg) -- Activist investor Carl Icahn is stepping up his fight with Southwest Gas Holdings Inc. The billionaire, who has disclosed a 4.9% stake in the utility, is offering to buy remaining shares for $75 each and initiating an effort to replace the board after the company ignored his call to walk away from a deal to buy Questar Pipelines from Dominion Energy Inc. “We tried to prevent the disastrous Questar deal,” Icahn wrote Thursday in an open letter to shareholders...

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    14. Executive Bonuses in Britain Increasingly Hinge on ESG Targets

      Executive Bonuses in Britain Increasingly Hinge on ESG Targets

      (Bloomberg) -- A growing number of executives in Britain are finding that their pay packages rely on how well they perform on environmental, social and governance metrics. Almost half the annual bonus plans awarded to executives at the biggest U.K. firms now include an ESG component, up from about a third a year ago, according to Alvarez & Marsal, which reviewed the most recent annual reports of FTSE 100 members...

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    15. Former Pepsi CEO Indra Nooyi Says She’s Never Asked for a Raise

      Former Pepsi CEO Indra Nooyi Says She’s Never Asked for a Raise

      (Bloomberg) -- Former Pepsi Co. Chief Executive Officer Indra Nooyi, one of few women of color to ever run a large public U.S. company, said she’s never asked for a raise and once turned one down during the financial crisis. “I’ve never, ever, ever asked for a raise,” Nooyi said in an interview with the New York Times Magazine this week. “I find it cringeworthy...

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    16. Wall Street’s ESG Loans Charge Corporate America Little for Missed Goals

      Wall Street’s ESG Loans Charge Corporate America Little for Missed Goals

      (Bloomberg) -- When American Campus Communities Inc. announced the signing of a $1 billion sustainability-linked credit line in May, its executives decided to take a victory lap. For the first time, they said, the company was tying its borrowing costs to targets ranging from improved energy efficiency to workforce and boardroom diversity. The largest owner of college apartments in the U.S. even put out a press release touting its commitment to environmental, social and governance goals...

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    17. Private Equity-Backed Firms Shut Out Black Directors, Data Show

      Private Equity-Backed Firms Shut Out Black Directors, Data Show

      (Bloomberg) -- Companies that have gone public in the last two decades have had few minorities on their boards, a new report finds. Black directors have held only 49 of about 4,700 board seats created at companies backed by the top 18 private equity and venture capital firms, according to the report released Tuesday by the Board Diversity Action Alliance. The group is working to boost boardroom representation...

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    18. ISS Says Support for Starboard Nominees at Box Unwarranted

      ISS Says Support for Starboard Nominees at Box Unwarranted

      (Bloomberg) -- Activist investor Starboard Value’s effort to revamp the board of Box Inc. was dealt a blow Monday with a prominent shareholder advisory firm urging investors not to support to its director nominees. Institutional Shareholder Services Inc. said investors should support two of the three nominees put forth by the company and withhold support for incumbent lead director Dana Evan due to her longstanding presence on the board and the lingering governance concerns at the software company. The firm said investors should support the re-election of Chief Executive Officer Aaron Levie and Peter Leav in a shareholder vote slated ...

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      Mentions: Lead Director KKR ISS
    19. More U.S. Companies Tie CEO Pay to Diversity Metrics

      More U.S. Companies Tie CEO Pay to Diversity Metrics

      (Reuters) - Corporate diversity has become the most common type of sustainability metric used in setting executive pay, a new study found, as companies look to increase the share of women and minorities in their workforces. Among 61 metrics used by Fortune 100 companies to tie executive pay to environmental, social or governance factors, 14 of them, or 23%, were diversity metrics, according to Nathan Grantz, senior research analyst at compensation consultant Equilar...

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    20. Shareholders Narrowly Approve Videogame Maker Activision Blizzard CEO's $155 Million Pay

      Shareholders Narrowly Approve Videogame Maker Activision Blizzard CEO's $155 Million Pay

      (Reuters) - Shareholders approved the $155 million pay package for Activision Blizzard Inc Chief Executive Robert Kotick on Monday by a 54% margin, after the company took the rare move of delaying its vote on executive compensation by a week. The maker of popular video games including "World of Warcraft" and "Call of Duty" faced a campaign from an investor group against its CEO's payout, saying that the company had not addressed its concerns from prior years...

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