[ad_1]
NEW YORK (Reuters) – Information Corp (NASDAQ:) stated on Wednesday that buyers rejected a proposal by activist investor Starboard Worth to interrupt the Murdoch household’s grip on the writer by ending a twin class voting construction.
The corporate stated the hedge fund’s non-binding shareholder decision fell wanting securing the variety of votes wanted to move at in the present day’s annual assembly. The Murdoch Household Belief owns greater than 40% of the voting shares.
Starboard gained help from highly effective proxy advisory corporations and a lot of different buyers who argued that good company governance dictates every share ought to have one vote.
[ad_2]
Source link
