Wella
This article was originally published in The Rose Sheet
Executive Summary
Minority shareholder group is seeking an audience with Wella's Supervisory Board to address its request for an additional resolution proposing appointment at the May 13 annual general meeting of special representative to seek damages from Procter & Gamble. Representatives for the shareholders claim that Wella has thus far declined to address the resolution request. The group, which claims P&G's acquisition of Wella and subsequent licensing agreement for Wella consumer products violated German takeover law, also proposes a resolution barring P&G from voting at the meeting. P&G asserts the efforts of the shareholders are aimed at securing a higher buyout price for their stock, and maintains the acquisition complied with German laws. The U.S. consumer products giant purchased Wella last year for $5 bil., offering shareholders €65 for preference shares and €92.25 for voting stock. The minority group holds 20% of Wella shares...
You may also be interested in...
Mustang Bio Enters Race For CAR-T In Autoimmune Disease
The biotech company’s CEO talked to Scrip about plans to bring the CD20-targeting CAR-T MB-106 into an investigator-sponsored Phase I trial later this year.
Aldeyra Hopes To Refile Dry Eye Drug Reproxalap Later In 2024
Following an FDA complete response letter last November, Aldeyra has agreed with the agency on a trial design to demonstrate efficacy in ocular discomfort, which the company can complete this year.
Colorado Price Cap Plan For Enbrel Draws Amgen Lawsuit; Cosentyx, Stelara ‘Affordability’ Reviews Pending
However, the state's recently formed prescription drug affordability board found Gilead’s Genvoya and Vertex’s Trikafta to be affordable.