Shareholders at Hyundai Motor and its auto parts affiliate Hyundai Mobis rejected Elliott’s proposals for one-time dividends totaling $6.2 billion
SEOUL—U.S. hedge-fund manager Elliott Management Corp. lost its battle to boost dividends and gain board seats at South Korean auto giant Hyundai Motor Group, highlighting the challenge activist firms face in proxy fights with Asia’s family-run businesses.
The setback follows a victory last year against Hyundai, when the conglomerate called off a corporate restructuring that Elliott said lacked business rationale and hurt shareholders. New York-based Elliott, founded by billionaire Paul Singer, is one of the biggest shareholder...
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
U.S. fund Elliott suffers crushing defeat in Hyundai proxy voteInvestors in Hyundai Motor Group companies rejected on Friday Elliott Management...
Read more »
U.S. fund Elliott battles the odds in latest showdown with HyundaiThe showdown between U.S. activist hedge fund Elliott Management and Hyundai Mot...
Read more »
U.S. states probing Hyundai, Kia over vehicle fires: Connecticut AGA group of U.S. states is investigating Hyundai Motor Co and Kia Motors Corp for...
Read more »
SEC is last activist that fund investors needThe U.S. watchdog worries that consolidation and fee pressure may be hurting small asset managers, thereby reducing choice. For sure, BlackRock and Vanguard loom ever larger over the industry. But the main problem for rival funds is justifying the fees they charge already.
Read more »
US Treasury yields decline as investors await data; US-China trade in focusU.S. government debt prices were higher on Friday, ahead of a fresh batch of economic data.
Read more »
Volkswagen, ex-CEO Winterkorn face SEC charges of misleading U.S. investorsIn a news release issued late Thursday, the SEC said the German auto maker raised billions of dollars through the corporate bond and fixed-income markets,...
Read more »
U.S. SEC sues Volkswagen, ex-CEO over alleged emissions fraud on investorsThe U.S. Securities and Exchange Commission (SEC) is suing Volkswagen (VW) and i...
Read more »
Roche sues U.S. executives in fight over diabetes test stripsRoche is seeking tens of millions of dollars in damages and compensation in a U....
Read more »
U.S. manufacturing sector slowing as economy loses steamU.S. manufacturing output fell for a second straight month in February and facto...
Read more »
U.S. manufacturing sector slowing as economy loses momentumU.S. manufacturing output fell for a second straight month in February and facto...
Read more »