A Sale Could Come Next After Hain Celestial Settles With Activist Glenn Welling
(HAIN) , a pure-play natural and organic food company, is close to reaching an agreement with an activist investment fund that would bring on six new directors and install the insurgent fund's manager, Glenn Welling, onto a newly formed strategic review committee set up to consider strategic options such as a sale, according to a person familiar with the situation. According to a person familiar with the situation, Welling was interested in pushing the company to boost revenue through a new stronger approach to sales and promotion but that he also wanted to see the company consider selling itself to another larger packaged foods company. In addition, Centerview Partners, an investment bank, has been retained to help with the review, he said. A confirmation email has been sent to the address provided during registration. Please click on the appropriate link to confirm your email address.
Hain Celestial, activist investor agree on board changes
Hain Celestial reached an agreement with activist investor Engaged Capital for changes in its board, which could pave the way for a potential sale of the organic food and beverage company, The Wall Street Journal reported on Thursday. As per the agreement, Hain will nominate six new directors, while three board members will not seek re-election, the Journal reported, citing people familiar with the matter. Engaged Capital founder Glenn Welling will join the board, according to the report. The maker of Celestial tea and BluePrint juice will also form a group of directors to examine strategic alternatives, WSJ reported. Hain Celestial and Engaged Capital did not respond to requests for comment outside regular business hours.
Hain Celestial (HAIN) Announces Annual Meeting Date, Reconstitution of Board, Cooperation Agreement with Engaged Capital
The Company also announced the appointment of Dr. The full agreement with Engaged Capital will be filed in a Form 8-K with the Securities and Exchange Commission later today, and all of the directors' biographies are available on the Company's website under Investor Relations. We remain excited about the opportunities ahead and look forward to working collaboratively with our new Board members." Glenn W. The Board will benefit from the infusion of skills and experience in consumer packaged goods, grocery and retail, operations, and capital allocation. Hain Celestial is a great business with significant opportunities for growth and margin expansion, and I look forward to working with the management team and the Board to help realize the Company's full potential." Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
Hain Celestial in Pact With Activist Investor Overhauling Board
Hain Celestial Inc. reached an agreement with an activist investor that calls for sweeping changes to the food-and-beverage company’s board and opens the door to a possible sale, according to people familiar with the matter. As part of the settlement with Engaged Capital LLC, Hain will nominate six new directors and three board members won’t run for re-election, the people said. The board is to comprise 11 directors, all but one...
$694.54 Million in Sales Expected for The Hain Celestial Group, Inc. (HAIN) This Quarter
IFP Advisors Inc grew its stake in shares of The Hain Celestial Group by 50.6% in the first quarter. Invictus RG bought a new stake in shares of The Hain Celestial Group in the first quarter worth about $174,000. Tudor Investment Corp ET AL bought a new stake in shares of The Hain Celestial Group in the first quarter worth about $201,000. bought a new stake in shares of The Hain Celestial Group in the second quarter worth about $201,000. Finally, BB&T Securities LLC bought a new stake in shares of The Hain Celestial Group in the first quarter worth about $213,000.
Nasdaq, SEB to test blockchain for mutual funds
NEW YORK (Reuters) - Exchange group Nasdaq Inc and Nordic financial services group SEB have teamed up to test a blockchain-based mutual fund trading platform for the Swedish market in an effort to simplify and make the process faster. The platform would enable fund companies, distributors and other market participants to record all transactions and changes to mutual trades in real time on a shared digital ledger, Nasdaq and SEB said on Wednesday. Financial institutions have been ramping up their investments in the nascent technology in hopes that it can help reduce the complexity and cost of some of their burdensome back office processes. Nasdaq and SEB have committed to continue development on their joint effort with the aim of building and testing a working prototype, they said in a joint statement. While financial institutions continue to test and invest the technology, critics have warned that its potential may be over-hyped, suggesting that it may take years before it can be implemented at scale.
Nasdaq, SEB to test blockchain for mutual funds
NEW YORK (Reuters) - Exchange group Nasdaq Inc and Nordic financial services group SEB have teamed up to test a blockchain-based mutual fund trading platform for the Swedish market in an effort to simplify and make the process faster. The platform would enable fund companies, distributors and other market participants to record all transactions and changes to mutual trades in real time on a shared digital ledger, Nasdaq and SEB said on Wednesday. Financial institutions have been ramping up their investments in the nascent technology in hopes that it can help reduce the complexity and cost of some of their burdensome back office processes. Nasdaq and SEB have committed to continue development on their joint effort with the aim of building and testing a working prototype, they said in a joint statement. While financial institutions continue to test and invest the technology, critics have warned that its potential may be over-hyped, suggesting that it may take years before it can be implemented at scale.
A gigantic Chinese social-media platform is offering iPhones for citizen censors
In exchange, the company will offer cash stipends and prizes including an iPhone. The ad highlights how Chinese tech companies are facing increasing pressure to remove politically sensitive content from the internet. In addition, every month the 10 supervisors who log the most reports will be eligible to win a prize. According to the post, Weibo is conducting the effort with guidance from the Beijing office of the Cyberspace Administration of China (CAC), one of the main government branches that oversees the country’s online censorship policy. Weibo’s message comes as the Chinese government continues to crack down on internet freedom in advance of the upcoming 19th Party Congress, a key political event that will determine the leadership of the Communist Party for the next five years.