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HP clinches six week extension on whether to join shareholders' suit against Autonomy

HP has said that it has made decisions about how to proceed with a case brought by its shareholders over the $8.8bn writedown for the acquisition of Autonomy – but it wants six more weeks to mull them over. The company was given until last Friday to think about recommendations by a committee of independent directors over the …

Gates chokes up, WEEPS to Microsoft shareholders amid talk of CEO hunt

Bill Gates today delivered an emotional speech to the Microsoft shareholders, choking up as he described his history with the company and the search for a successor for his friend Steve Ballmer. "We've got a commitment to see that the next CEO is the right person, for the right time, for the company we both love," said Gates, …
Iain Thomson, 19 Nov 2013
Dell logo in crosshairs

Shareholders tell Mike 'Just Do It': Dell to go PRIVATE for $24.9bn

Dell shareholders have given the green light to Mickey D to take the company he founded nearly three decades ago private – again. Approval from investors was never really in doubt after activist investor Carl Icahn, who seems more interested in Apple, revealed that he and partner SAM had given up the ownership battle, clearing …
Paul Kunert, 12 Sep 2013

Ex-Autonomy boss Mike Lynch goes nuclear: Claims HP 'misleads' its own shareholders

Mike Lynch, former chief of HP-owned Autonomy, tossed an explosive shareholder letter onto the internet today – just hours before HP's annual investors' meeting in Santa Clara, California. The scathing missive alleges Hewlett-Packard has been "misleading" its shareholders about the reasons behind the computer giant's $8.8bn …
Jack Clark, 19 Mar 2014

Shareholders' advisors back Big Mike's deal to take Dell private

Dell continues to insist that founder Big Mike's offer to take the firm private is what's best for it, announcing today that proxy advisory firms Institutional Shareholder Services (ISS), Glass Lewis and Egan Jones are all recommending it. “We are pleased that all three of the nation’s leading proxy advisory firms have …
The Register breaking news

Shareholders hoping to squeeze cash from Kodak are deluded, says court

Kodak shareholders aren't going to get the chance to set up a committee to represent their interests in the reorganisation of the bankrupt firm. Investors in the bust camera firm were trying to get a US bankruptcy judge to allow them to set up the committee, after hearing of the current reorganisation plan, which would see them …
Dell logo in crosshairs

Dell shareholders head in for second vote on Big Mike's plan

Dell shareholders are set to meet in Texas again today to see whether they can agree to go with Big Mike's plan to take the firm private or prefer to wait for a better offer. Investors are still pretty dubious about their founder's $24.4bn buyout offer for the firm, sources whispered to Reuters, with many feeling that the $13.65 …
The Register breaking news

Clearwire board to shareholders: Go on, grab that Dish cash

The board of Clearwire has unanimously recommended that shareholders take the Dish cash, despite the fact that the broadband wireless firm's biggest shareholder is dead set against the deal. That shareholder is Sprint, which already owns the majority of Clearwire and has offered $3.40 per share for the rest. But, just days …
Bill Ray, 13 Jun 2013
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HP shareholders advised to give chairman Ray Lane the boot

Two leading proxy advisors are trying to convince HP shareholders to boot out several directors over the ill-fated acquisition of Autonomy, including chairman Ray Lane. ISS, the world's top proxy advisor - a firm hired by shareholders to make recommendations and sometimes cast votes on their behalf - has told HP stockholders to …
Google sign outside Mountain View headquarters

Google's latest mega-earnings fail to impress shareholders

It's hard to be disappointed about quarterly revenues of $15.42bn – unless you're Google, that is, and the analysts expected you to bring in even more. The online ad-slinger underperformed in both revenue and earnings per share during the first quarter of its fiscal 2014, based on the average estimate gathered by Yahoo! Finance …
Neil McAllister, 16 Apr 2014
Dell chairman and CEO, Michael Dell

Dell buy-out latest: Big Mike makes shareholders an offer they can't refuse

Dell has once more put off the vote on whether company founder Big Mike can buy out the PC-making titan - after he and his biz partner Silver Lake Partners slightly upped their offer to shareholders and demanded a change to the voting rules. The computer giant's special board committee postponed the stockholder vote on Mikey …
The Register breaking news

Oracle suffers premature remuneration: Spaffs $900m on shareholders

Oracle is paying shareholders $867m in quarterly dividends early to beat a possible 2013 US tax hike. The company declared on Monday an accelerated second, third and fourth quarter cash dividend of $0.18 per share of outstanding common stock. The bonanza will be paid on 21 December 2012 instead of quarterly in 2013. Oracle’s …
Gavin Clarke, 04 Dec 2012
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HP knew Autonomy was a duff buy, claim HP shareholders in $1bn suit

HP ignored numerous warning signs about the state of Autonomy's finances and accounting irregularities at the firm before acquiring it for $11bn, shareholders have alleged in a $1bn lawsuit. The investors are suing HP's current CEO Meg Whitman, her predecessor Leo Apotheker, former HP chairman Ray Lane and Autonomy founder Mike …
The Register breaking news

Cable & Wireless Worldwide shareholders OK Vodafone takeover

More than 99 per cent of voting shareholders have approved the takeover of Cable & Wireless Worldwide by Vodafone, despite suggestions that one of the largest was holding out for more money. Vodafone put £1,044m on the table at the end of April, but Orbis Investment Management threatened to vote its 19 per cent holding against …
Bill Ray, 19 Jun 2012
The Register breaking news

Yahoo! punts! $3.6bn! to! shareholders! after! Alibaba! deal!

Yahoo! has closed the $7.6bn stage of its sale of stock to Alibaba, bagging $4.3bn in cash after taxes and fees. Alibaba has long wanted the share in its stock sold back to Yahoo! so it can have greater independence and go for its own stock market flotation in the next few years. But it took over two years of negotiations for …
The Register breaking news

MetroPCS shareholders approve sweetened T-Mobile merger

Shareholders in US mobile minnow MetroPCS have approved an improved offer from Deutsche Telekom's T-Mobile USA subsidiary after the Germans sweetened the terms of their offer. Institutional investors had balked at the merger, saying it loaded the company down with too much debt. But Bloomberg reports they have accepted a deal …
Iain Thomson, 24 Apr 2013

Investor lobs sueball at BlackBerry, says it 'misled' shareholders

A BlackBerry shareholder has filed a lawsuit accusing the company and its chief exec and CFO of inflating its share price with unrealistic promises about BB10, leading to thousands of investors getting burnt. The suit was filed in federal court in Manhattan, New York, by one Marvin Pearlstein, in the names of "thousands" of …
Bill Ray, 07 Oct 2013

HP shareholders bay for blood in $19 BEELLION writedown aftermath

Hewlett-Packard investors are rearing up against Meg Whitman’s board, demanding senior heads roll over several multi-billion-dollar failed acquisitions, including HP's 2011 $11bn buy of Brit software company Autonomy - which it wrote down to the tune of $8.8bn late last year. The Autonomy writedown at the tail-end of 2012 was HP …
Gavin Clarke, 26 Feb 2013
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Bolshy investor pushes Juniper Networks into restructuring plan

Juniper Networks has bowed to pressure from hedge fund Elliott Management, accepting demands from the fund, apparently including appointing two directors it proposed. Elliott has been campaigning for change at the company, recommending that it return some of its capital to shareholders and nominating two directors to the board. …

PayPal mudslingfest TELEVISED: Icahn and Donahoe go on telly

The fight between activist investor Carl Icahn and eBay over the fate of PayPal has hit the media, after Icahn claimed that he'd "never seen worse corporate governance" at another firm. Speaking to CNBC television, Icahn criticised the firm's governance policy and also said that eBay chief exec John Donahoe shouldn't have …
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HP settles lawsuit after Mad Leo's WebOS and PC biz shenanigans

HP has agreed to pay $57m to shareholders miffed by the management of Leo Apotheker. This comes after the plaintiffs sued the firm for defrauding them by abandoning its business model. The investors launched a class action suit after former chief Apotheker shocked them, and the rest of the tech world, by announcing plans in …
Angry woman on mobile

Chuh! 'Grossly inadequate': Time Warner Cable rejects $62bn hostile takeover bid

Time Warner Cable has rejected a hostile takeover bid from Charter Communications, calling its $62bn offer "grossly inadequate". Charter yesterday formally offered to buy up its rival for $132.50 a share, including $83 in cash and the rest in its own stock, after months of acquisition talks between the companies. But Time …

eBay stockholders! There's MORE to COME, thunders Carl Icahn

Activist investor Carl Icahn is continuing his campaign to get eBay to spin off PayPal, writing yet another letter to shareholders that said he hadn't even begun to fight to get his way. "Stockholders, please stay tuned. There is more to come – much more," Icahn threatened in his latest open letter (emphasis his own). The …
The Register breaking news

Telstra shareholders pass deal with Oz government

Telstra shareholders have, with some quibbles from the floor, approved the proposed $AU11 billion deal between the carrier, the government, and NBN Co. Under the deal, some aspects of which which are still being mulled by the Australian Competition and Consumer Commission, Telstra will receive $AU11 billion at net present value …
The Register breaking news

Shareholders! attempt! Yahoo! coup!

Troublemaking Yahoo! shareholder Daniel Loeb, head of hedge fund Third Point, has filed with the SEC to appoint himself - and three other directors nominated by him - to the board of the beleaguered web firm. Loeb has been a constant agitator of Yahoo! since the web biz first wobbled, and called for the resignations of co- …
Fawlty Towers

Apple cash stash dash results in Icahn v CalPERS bitchfight

Activist investor Carl Icahn has gone to war with the pensioners of California over his bid to get his grubby mitts on Apple's mammoth money pot. The moneyman wants Apple to launch a $50bn share buyback, which would give shareholders a profitable but brief payday. But the California Public Employees' Retirement System (CalPERS …
Jasper Hamill, 06 Feb 2014
Steve Ballmer as Doctor Evil

Microsoft investors advised: Sack the guy searching for Ballmer replacement

Proxy advisory firm Glass Lewis has told Microsoft shareholders to vote against the re-election of independent director John Thompson, who is leading the search for a new chief exec. In a research note seen by Reuters, the firm said that Thompson potentially had a conflict of interest because he's the CEO of Virtual Instruments …
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HP extends deadline as Autonomy shareholders drag feet

HP has extended the acceptance deadline for its Autonomy bid as fewer than half the UK software developers' shareholders approved the £7bn deal. Yesterday's closing date for agreeing on HP's £25.50 per share offer made on 19 August passed with just 42 per cent of Autonomy investors giving the thumbs-up, despite the deal …
Paul Kunert, 13 Sep 2011
Farmville on the iPhone

Zynga dodges IPO lawsuit thanks to lack of 'basic factual details'

Zynga has seen off a lawsuit that accused the gaming firm of misleading investors about its financial and business prospects ahead of its initial public offering back in 2011. Shareholders who launched the suit had alleged that Zynga had "engaged in a deliberate scheme to mislead investors by portraying the online gaming company …
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Novell shareholders approve Attachmate buyout

The shareholders of beleaguered systems software supplier Novell has approved the $2.2bn takeover of the company by Attachmate. According to an 8K filing with the US Securities and Exchange Commission, shareholders representing 68.1 percent of the 352.8 million outstanding shares of Novell showed up for the special meeting or …
The Register breaking news

Apple shareholders nix disclosure of Jobs succession plan

Apple shareholders have rejected a proposal that would have required the company to disclose its CEO succession plans. So we still have no way of knowing how the company is handling the ongoing health problems facing current CEO and spiritual leader Steve Jobs. The succession plan proposal was floated by the Central Laborers' …
Cade Metz, 23 Feb 2011
Kim Dotcom

Dotcom's Mega looks for a backdoor onto NZ stock exchange

Kim Dotcom’s cloud storage business Mega Ltd has announced plans to go public with a NZ$210 million (£109m) backdoor listing on the New Zealand stock exchange, which will open the firm up to a whole new level of scrutiny. Backdoor listings are usually enacted by smaller firms looking to go public without the cost and hassle of …
Phil Muncaster, 25 Mar 2014

Apple investor Icahn backs down on share buyback plan

Activist investor Carl Icahn has laid down his sword and given up the fight to persuade Apple to launch a $50bn share buyback. His surprise capitulation comes after influential proxy firm ISS advised investors to vote against Icahn's proposal for Apple to buy back its own – thus allowing shareholders to get their mitts on some …
Netflix

Netflix speaks out against Comcast–Time Warner megadeal

Video service Netflix has officially come out in opposition of a potential merger between Comcast and Time Warner. The company said in its latest earnings report that the potential for a combined Comcast and Time Warner network would result in the extraction of "unprecedented fees" from Netflix and other streaming services. "If …
Shaun Nichols, 21 Apr 2014

Oracle investors get hot under collar over execs' bulging packages

Three long-term investors in Oracle are planning to protest against the firm's executive pay policies at its annual shareholder meeting today. Pension funds from Britain, the US and the Netherlands wrote to Oracle to express "severe concerns" about how much top execs were getting paid and the accountability of the board. "At …

NetApp to 'realign', cut 600 jobs worldwide

NetApp has announced it will cut 600 jobs around the world, as part of a plan to adopt “... a business realignment plan designed to focus its resources on key strategic initiatives and streamline its business in light of the constrained IT spending environment.” The company announced the plan today in a form 8-K filed with the …
Simon Sharwood, 13 Mar 2014

Microsoft gets GIANT GLASS HQ in FINLAND as part of Nokia deal

Nokia has announced that it will be turning its iconic headquarters in Espoo, Finland over to Microsoft as part of the deal to sell its mobile division to Redmond. The company confirmed in a statement that it would be handing over control of the main offices to Microsoft and moving its operations to another facility in the …
Shaun Nichols, 22 Nov 2013
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IBM job cuts: Big Blue starts 'slaughter' of Indian and European workforce

IBM has begun slicing away at its workforce in India and Europe, as the company tries to shift its business to more lucrative, higher-margin technologies. The job cuts were confirmed by a representative for the IBM Union Alliance to The Register by email on Wednesday after a report was published describing a mass layoff in India …
Jack Clark, 12 Feb 2014
The Register breaking news

Apple shareholders call for transparent CEO 'succession plans'

Apple is advising its shareholders to vote against a proposal to reveal a “succession-planning policy” for the company’s CEO. Meanwhile, the firm’s current boss Steve Jobs, who owns 5.5m shares in the iPhone maker, saw $1 slipped into his pay packet in 2010. That figure matches the annual reward he has received since 1997 for …
Kelly Fiveash, 10 Jan 2011

Icahn slurps another $500m in Apple shares, demands buyback AGAIN

Activist investor Carl Icahn has yet again called on Apple to start scooping a few handfuls off its mountain of cash and handing it back to shareholders. His latest call came after he upped his stake in the fruity firm by a whopping $500m. The agitating stockholder tweeted that he'd upped his share of the fruity firm to $3.6bn …

Icahn rallies the troops to pump Apple for cash at next shareholder meeting

Wall Street tycoon Carl Icahn hasn't given up on his quest to have Apple return some of its $150bn cash stockpile to investors, and he now wants Cupertino's shareholders to vote on the idea. Icahn has spent the last few months pestering Apple CEO Tim Cook to spend the company's cash reserves on a stock buyback program that would …
Neil McAllister, 04 Dec 2013

Apple shareholders demand CEO succession plan

Later today Apple's board will be asked to reveal its plans for replacing the company's absent boss Steve Jobs. The current CEO is on medical leave from Cupertino for the third time in the past seven years. The Apple chief told staff in January that the company board had agreed to his taking time off from the Mac and iPhone …
Kelly Fiveash, 23 Feb 2011

Telstra plans to keep hands on government BEEELIONS

Telstra has assured shareholders that having gotten one hand on an $11 billion (net present value) payment from the government, the cash will have to be pried from its cold, dead fingers. Since it was Telstra chair Catherine Livingstone who was speaking, and she was speaking to shareholders at the carrier's annual general …
The Register breaking news

Shareholders sue HP over Hurd's sex scandal probe

HP faces a lawsuit over the departure of Mark Hurd from shareholders angry at the massive payoff he received and accusing the board of failing in their legal duties. Hurd was allowed to resign as CEO last week after an investigation into sexual harrassment allegations uncovered false expenses claims. He walked away with a $12.2m …
The Register breaking news

Dissenting Nokia shareholders: Bring us the head of Stephen Elop

A group of purported Nokia shareholders and former employees has vowed to challenge the new company's strategy at the next AGM in May. The revolting shareholders' "plan B" calls for a return to "high growth and high profit margin through innovation" and "maintain ownership and control of the software layer of the Nokia products …
Andrew Orlowski, 15 Feb 2011
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Michael Dell snubbed by quarter of his shareholders

A quarter of Dell's shareholders have withheld support for reinstating company founder Michael Dell as chairman of the company. Although the shareholder vote, detailed in an SEC filing, will have no immediate impact it is a big psychological blow - shareholders typically vote in favour of directors' resolutions, or don't bother …
John Oates, 18 Aug 2010
Ebay logo outside of the company's HQ

PayPal row heats up as eBay chair calls Icahn claims 'false and misleading'

eBay chairman Pierre Omidyar has said activist investor Carl Icahn's comments about the firm are "false and misleading" as the row over the fate of PayPal heats up. In one of his notorious open letters to shareholders, Icahn accused eBay's board of having conflicts of interest that had affected its decision not to spin off …
The Register breaking news

Dissenting Nokia shareholders stop throwing toys from pram

The anonymous Nokia investors who boldly launched a "Plan B" for the company are giving up after just 48 hours. The group called for the dismissal of CEO Stephen Elop and outlined an alternative strategy based on high-margin, Nokia-developed platforms. But despite gathering thousands of supportive Tweets (1,585) and Facebook " …
Andrew Orlowski, 16 Feb 2011

Microsoft cedes board seat to activist investor

Just a week after Microsoft chief Steve Ballmer announced plans for his retirement Redmond has offered activist shareholder ValueAct Capital a seat on the Microsoft board. Redmond announced the "cooperation agreement" in the late hours of Friday afternoon in San Francisco before the Labor Day three day weekend, which is an ideal …
Jack Clark, 31 Aug 2013
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Compuware investor lost patience with shake-up, slams down ultimatum

Activist investor Starboard Value has told Compuware it should look for a buyer right now or come up with a new restructuring plan for the firm. Compuware has been ripe for a takeover since it rejected a $2.3bn offer from its largest shareholder Elliott Management in January, but things have been quiet since it said no to …