James Warner News
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AOL Inc. Chief Executive Officer Tim Armstrong persuaded shareholders to reject an activist investor’s bid to shake up the board, overcoming one of his toughest challenges since taking charge of the Internet company.
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Starboard Value LP, the investor pushing for changes at AOL Inc., said Glass Lewis & Co. recommended shareholders vote for one of its three nominees to the Internet company’s board.
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Institutional Shareholder Services Inc. recommended that AOL Inc. shareholders vote for six directors selected by the Internet company, as well as two nominated by investor Starboard Value LP.
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AOL Inc., facing a fight with investor Starboard Value LP, said Institutional Shareholder Services Inc. was wrong in not recommending shareholders vote for two of its eight board nominees.
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Harrisburg’s incinerator, a $310 million debt burden that’s driven the Pennsylvania capital to weigh bankruptcy, may become the city’s salvation.
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AOL Inc. shareholder Starboard Value LP nominated five directors for the Web portal’s board after citing disappointment in the company’s response to a December letter saying it should move to stem shareholder losses.
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