New User:

Forgot your password?

Stock Market & Financial Investment News

News Breaks
November 13, 2012
18:54 EDTGBLGAMCO commences Dutch Auction to repurchase 800K shares of Class A common stock
GAMCO Investors announced that its board has authorized a modified "Dutch Auction" tender offer to purchase for cash up to 800,000 shares of its outstanding Class A common stock at a price per share of $46.00-$50.00 per share. The closing price of GAMCO's Class A Common Stock on November 13 was $46.26.
News For GBL From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
January 23, 2015
16:29 EDTGBLGAMCO Investors intends to vote against “loyalty shares” proposal
On January 28, Davide Campari-Milano S.p.A. will be holding an Extraordinary General Meeting of Shareholders regarding a “loyalty shares” proposal. On January 22, GAMCO Asset Management, an affiliate of GAMCO Investors, delivered a letter to Chiara Garavini, Campari’s Investor Relations & Corporate Finance Senior Director, detailing GAMCO’s intention to vote against this proposal as well as the motivation behind its decision. The full text of the letter follows: "Dear Chiara, The proxy voting committee of GAMCO Asset Management believes that the proposed adoption of double voting rights for long-term registered shareholders has certain beneficial merits. However, the negatives overwhelm the positives. In brief, the proposal permits controlling shareholders to sell shares and keep voting control. The result over the longer term is entrenchment of voting control without pari-passu economic interest. A sunset provision would be a minimum prerequisite for us to consider a favorable vote on this initiative. In addition, we experienced serious “administrative” issues with respect to the loyalty share distribution at CNH Industrial N.V. GAMCO, on behalf of its investment advisory clients, will will vote against the referenced proposal for those shares which it has voting authority over."

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the disclaimer & terms of use