TCI under Fire from Corporate Governance Group over ABN ; BUSINESS
Moore, James, The Independent (London, England)
The hedge fund TCI's attack on management at the Dutch bank ABN Amro could lead to "rash decision making" and "further increase risk of failing performance", according to the world's biggest corporate governance watchdog.
In a sharply critical analysis of the London hedge fund's demand for a break-up at the bank, ISS - which advises shareholders how to vote at annual general meetings - accused TCI of "cornering the management board". It added: "ISS is of the opinion that any major restructuring operation should be done after careful planning and with the full support of management."
Shareholders were urged to reject all five of TCI's rebel motions, which …
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Publication information: Article title: TCI under Fire from Corporate Governance Group over ABN ; BUSINESS. Contributors: Moore, James - Author. Newspaper title: The Independent (London, England). Publication date: April 13, 2007. Page number: Not available. © 2009 The Independent - London. Provided by ProQuest LLC. All Rights Reserved.
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