The company is imploring shareholders to vote against Icahn’s proposal to spin-off PayPal and appoint two board members at its upcoming annual meeting, and calling out Icahn’s personal attacks and the credentials of his proposed board members. This is just the latest in a heated battle that’s taken shape in the last three months.
New data from Activist Insight suggests that activist investing for 2014 is already shaping up to outpace last year, and the companies targeted represent a diverse group of industries.
This was the year the proxy battle turned ugly—and went mainstream.
Icahn gave up his fight for computer maker Dell in a letter that referenced dictatorships, Gone with the Wind, and Twitter. You might say it’s rather dell-ightful.
For hedge funds engaged in proxy battles, taking to Twitter can get costly. Legal fees, on average, run around $2,000 per tweet.