Jana Claims Victory In Agrium Fight

Apr 8 2013 | 11:24am ET

Jana Partners claims to have won a mixed result in its proxy battle with Canadian fertilizer company Agrium Inc.

Agrium shareholders elected two of Jana's five nominees to the company's 13-member board, the New York-based activist hedge fund said today. Among the victors are the firm's managing partner, Barry Rosenstein.

Jana said its success came in spite of calls by Agrium to shareholders who had voted for the hedge fund's slate, urging them to change their votes even after Friday's deadline. Agrium is allowed to extend the deadline without notice if it will help the current board members win re-election, Jana said.

"While only Agrium knows the vote results for both sides, based on the number of votes received by these nominees and the typical turnout for contested Canadian elections, and leaving aside the potential impact of Agrium's offer to pay financial advisers and brokers for favorable votes, it appears that both will be elected," Jana said.

Agrium said it was "very confident" its nominees would prevail and that Jana was "spreading misinformation."

Jana owns a 7.5% stake in Agrium.


In Depth

GSAM's Papagiannis: Liquid Alternatives For The Long Run

Apr 21 2017 | 8:44pm ET

Interest in liquid alternatives cooled a bit last year amid a broad shift in investor...

Lifestyle

Aston Martin Returns To Debt Market As DB11 Drives Turnaround

Mar 31 2017 | 5:21pm ET

James Bond’s preferred carmaker is returning to the public debt markets for the...

Guest Contributor

Debunking Conventional Investment Wisdom (Part II)

Apr 17 2017 | 5:56pm ET

The alternative investment industry is currently replete with buzzwords around data...

 

From the current issue of