Hot Stocks: Allergan, Inc. (NYSE:AGN); Darden Restaurants, Inc. (NYSE: DRI); Symantec Corporation (NASDAQ:SYMC)
Dallas, Texas, 09/29/2014 (ustrademedia) – Allergan, Inc. (NYSE:AGN) Board of Directors have received some serious advise against deciding or giving its authorization for being acquired without first taking all its shareholders into confidence. Such advice was received from investment house Pentwater Capital Management which owns 3.9 million shares of Allergan, Inc. (NYSE:AGN). Pentwater Capital Management in its letter has pointed out that in the recent past; the board has refused to negotiate with two serious premium bids. This they aver is “destructive action” emanating from the board of directors towards the shareholder value. The letter points out such unhelpful behaviour had led to nearly 35 percent of investors in the stock seeking a special general body meeting to fire the current directors enmass.
Darden Restaurants, Inc. (NYSE:DRI) issued a clarification statement on September 25, 2014 in response to a report by Institutional Shareholder Services. The report in question had thrown light on the expected sparks that are likely to arise when elections to the directorships for Darden’s Board happen on 10th October. The elections are scheduled on the sidelines of the Annual Shareholder Meeting. The clarification implored the company stock holders to use the Blue Cards to Vote in favour of “For All” vote and shun using the “white card” which would indicate that they are voting in favour of giving full control of the board to directors to Starboard and Its nominated director.
Symantec Corporation (NASDAQ:SYMC) board has announced that it is appointing Michael Brown as its full time chief executive officer. The announcement brings to an end, close to six-months of an executive search exercise, which had been initiated following the abrupt termination of Steve Bennett earlier this year in March as company CEO. Mountain View, California headquartered Symantec Corporation (NASDAQ:SYMC) had brought in Mr. Brown as its interim CEO at that time. The board in its press note announced the elevation of Mr. Brown into a full time role and expressed satisfaction that he had “distinguished himself” among the various candidates who were considered for the role.