In the face of increasingly vocal opposition from major Rite Aid
institutional stockholders and two thumbs-down evaluations from leading investors' advisory services, the two companies mutually agreed to terminate their $24 billion merger agreement the day before it was to be voted on by Rite Aid shareholders.
I am pleased that the all-cash acquisition has the support of the extended Moss family, as well as support from many
institutional stockholders," said Robert A.
Biopharmaceutical company Minerva Neurosciences Inc (NasdaqGM:NERV) reported on Tuesday the exercise of warrants held by certain
institutional stockholders in connection with a private placement as well as completion of the purchase of common stock in the open market by the chairman of its board of directors.
Low profile US and European
institutional stockholders own the rest of the equity in the business.
The transaction, which includes a private placement of a minimum USD11m of Paulson common shares to certain
institutional stockholders of VBI and an additional investor, will see VBI's pre-merger shareholders acquiring a combined 59% voting stake in Paulson, the latter said.
The company repurchased 5,771,126 of such shares from two
institutional stockholders at a price of USD 20.00 per share.
These findings are consistent with the relative advantage of
institutional stockholders in collecting and processing data [4].
institutional stockholders effectively suing themselves, paying high
Nguyen is the only individual who owns 5 percent of the company's stock, though there are
institutional stockholders with that amount as well.
Glass Lewis & Co and RiskMetrics Group, Inc are firms that advise
institutional stockholders on how to vote their shares.
Given the dominance of
institutional stockholders in developed stock markets compared to their less developed counterpart, it is our conjecture that the differences in tail behaviors across these markets can possibly be attributed to differences in investment behavior of institutional versus individual investors.
The silence in turn is caused by the prevalence of conflicts of interest among
institutional stockholders. Thus, investment banks often exaggerate the attractiveness of additional public offerings of companies whose securities they hold in their asset management departments.
