June 28, 2016
Capehart Scatchard, Mount Laurel, has hired attorneys Sheila M. Mints and Denise L. Sanders as shareholders in its health-care law department. Both came from Parker McCay, where Mints was a shareholder and chair of the health-care law group and Sanders was of counsel. Museum of the American Revolution, Philadelphia, has hired Sue Nicol as director of human resources. She had been director of human resources and administrative services at Indian Creek Foundation.
April 28, 2016 |
ACTIVIST Kati Sipp and Comcast customers won't have a public forum this year to grill Comcast CEO Brian Roberts. Comcast Corp. has scrapped its traditional annual shareholder meeting, the site of protests over the Time Warner Cable deal and other issues, for an Internet-based, "virtual" shareholder meeting. The company, which earned $8.2 billion in profits and paid its top six executives $176 million in 2015, said the online shareholder meeting will save Comcast on meeting costs at the Kimmel Center.
April 28, 2016 |
Activist Kati Sipp and Comcast customers won't have a public forum this year to grill Comcast CEO Brian Roberts. Comcast Corp. has scrapped its traditional annual shareholder meeting, the site of protests over the Time Warner Cable deal and other issues, for an Internet-based, "virtual" shareholder meeting. The company, which earned $8.2 billion in profits and paid its top six executives $176 million in 2015, said the online shareholder meeting will save Comcast on meeting costs at the Kimmel Center.
April 16, 2016 |
Fort Washington-based Madrigal Pharmaceuticals, which is developing a drug to treat hereditary and obesity-related liver troubles, is combining with Synta Pharmaceuticals Corp., of Lexington, Mass., which has cash and a stock-market listing but no product after its lung-cancer treatment failed to advance in clinical trials last year. The deal will pay Madrigal's owners and managers Synta stock worth more than $80 million. Madrigal shareholders will control 64 percent of the shares in the combined company.
February 24, 2016 |
PhotoMedex, a Horsham skin health company, said it will sell its consumer and professional products businesses to DS Healthcare Group in Pompano, Fla. for $48 million in stock and a note over three years. The boards of PhotoMedex and DS Healthcare have unanimously approved the deal, which is expected to close in the second quarter. PhotoMedex said the sale is a good strategic fit, with complementary product expertise, economies of scale, and international reach. Under the terms, PhotoMedex shareholders will own about 43 percent of the company, and DS Healthcare shareholders will own about 57 percent.
December 12, 2015 |
Comcast Corp. shareholders on Thursday approved a plan to convert nonvoting K shares into regular common stock. All nonvoting K shares will be reclassified on a one-to-one basis as class A common stock after Wall Street trading closes on Friday. Class A shares have one share/one vote rights in Comcast corporate-governance issues. Comcast has said there was no need for the two stock classes. The Roberts family preserved its 33 percent control of the cable and media conglomerate through super-voting class B shares.
November 29, 2015 |
Comcast Corp. shareholders will vote on Dec. 10 whether to reclassify 347 million nonvoting K shares as regular voting common stock, while preserving the Roberts family's 33 percent voting control of the cable and Internet giant. The special shareholders meeting is scheduled for 8:30 a.m. at the Top of the Tower at 1717 Arch Street. This vote is for shareholders of record on Oct. 20 and they are expected to approve the measure. Comcast CEO Brian Roberts holds the 33 percent voting control of the Philadelpiha company through the super-voting class B shares and will retain class B-related rights.
November 20, 2015 |
Airgas Inc. founder Peter McCausland says that, for him, it's always been about the shareholders. That was true five years ago, when the Airgas board put in place an unusually onerous poison pill to fight off a takeover attempt by Air Products & Chemicals Inc. of Allentown. It's true now, he said Wednesday, the day after the board he leads as executive chairman agreed to sell Airgas to Paris-based Air Liquide S.A. for $10.3 billion, or $143 a share. "It is gratifying," McCausland said.
May 15, 2015 |
Big stock-index funds and small investors joined forces to reelect incumbent DuPont Co. directors in a Wednesday vote at the company's Wilmington headquarters, pushing back a rival slate led by billionaire activist investor Nelson Peltz. After the vote, Peltz said that "the vast majority" of actively managed mutual funds and hedge funds had backed his slate. Vote totals were not released. "We won," company chair and chief executive Ellen Kullman crowed. "Apparently, we got their attention," she said, referring to the company's $15 million campaign to win support from retirees and other small investors, who own nearly one-third of DuPont's 900 million shares outstanding and had not voted much in recent elections.
April 20, 2015 |
Few of us are fond of mild, rainy summers like the one the Philadelphia region experienced last year. Nick DeBenedictis is definitely not a fan. DeBenedictis is chairman and CEO of Aqua America, the Bryn Mawr water utility that operates in eight states, including Pennsylvania and New Jersey. Wet summer weekends dampen demand: Too much free product falls from the sky. Gardeners don't water; cars don't get washed. "Two straight years, we've had pretty depressed sales," he said in an interview last week.