This article was originally published in The Rose Sheet
Executive SummaryMinority 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...
A top clinical research expert says the medical device industry is lagging behind the pharmaceutical industry when it comes to engaging patients. While industry groups are pushing for more patient preference be factored in in regulatory decisions, John Lewis of patient advocacy group Heart Valve Voice says medtech companies themselves are not investing enough in this area.
CMR Surgical’s Versius robotic system is now live in the UK NHS, the company announced 20 February.
Despite seeing an 8% drop in global turnover in 2019, an upbeat Teva says the completion of its restructuring plan has positioned the company to increase its turnover through newly-launched products – including biosimilars, brands and new generics – as well as improve its profit margins through manufacturing optimization.