A Minnesota-based investment group that for months has been waging a campaign to oust Sardar Biglari from atop Steak n Shake’s parent company weathered a resounding defeat Thursday afternoon.
A mix of union groups, activist investors and single-payer advocates will call for increased disclosure from WellPoint, and some investment funds will vote against WellPoint board members who they say have failed to exercise proper oversight of WellPoint’s political spending.
Eli Lilly and Co.’s board is once again recommending the removal of a provision that makes the company an almost impossible target for hostile takeovers. The same proposal has fallen slightly short at each of the past two annual shareholder meetings.
Interactive Intelligence Inc. will ask shareholders at its next annual meeting to vote on a proposal to reorganize the software firm under a new holding company called Interactive Intelligence Group Inc.
The proposal to remove an 80-percent approval threshold for takeover bids against the wishes of Lilly’s board received
approval from shareholders holding 74 percent of Lilly’s shares.
Steak n Shake Co. doesn't operate a single restaurant in New York City, where it is hosting its annual meeting Thursday.
But the world financial capital is chock full of high-profile investors intrigued by Steak n Shake CEO Sardar Biglari's
plans to harvest cash from the 485-location restaurant chain and deploy it on other investments.
The Humane Society of the United States bought $2,000 worth of Steak n Shake stock this week in hopes of getting the company
to work with food producers that use humane farming methods.