share buyback

FB Roundup: Nordstrom, Porsche, and Ofer family

March 22, 2018

Nordstrom ends talks with founding family, Porsche put next-gen in the driver's seat, and Ofers divide assets to avoid competition law

Nordstrom ends talks with founding family

Nordstrom have ended discussions with its founding family over re-privatising the business, following 10 months of negotiations.

The fashion retailer had appointed a committee to negotiate with the family—who own just over 30%—on behalf of shareholders, but the parties had been unable to reach an agreement and this week Nordstrom announced it had “terminated” discussions.

Carlos Slim becomes largest individual shareholder in Sulzberger-controlled New York Times

January 15, 2015

Mexican billionaire Carlos Slim has become the largest shareholder in fourth-generation family business The New York Times Company, increasing his stake to nearly 17%, but the Sulzberger family will retain control of the media giant through its dual-class share structure.

It follows a bumpy year for the 164-year-old company, in which it continued to find its feet in the digital era, and also saw a mishandled staff changes at the senior editorial level.

Bouygues family increases stake in business

November 21, 2011

The Bouygues family, which controls the eponymous industrial conglomerate, has upped its voting rights at the family business to more than 25%, as part of its share buyback plan announced in August this year.

The Paris-based company, which is one of France’s biggest construction and communications groups, said in a statement that the combined stake directly owned by the business, headed by second-generation Martin and Olivier Bouygues, has risen to 21.08% from the earlier 18%, with 29.8% voting rights.