Crescent Point wins proxy battle, staves off activist push: Reuters
Shareholders of Crescent Point Energy Corp voted to elect the Canadian energy producer’s full slate of directors after a contentious battle with activist investor Cation Capital, Reuters reported. The proxy fight, the biggest in the Canadian energy sector in at least about four years, was closely followed by investors and brought to the forefront new activist investor Cation. Cation, which owns a 0.3 percent stake in Calgary-based Crescent Point, began its public push for change at the company last month. The private investment firm, founded by Sandy Edmonstone, a former deputy head of global oil and gas at Macquarie Capital, called for changes in the board due to share value that was lost in recent years.
7 May 2018•1 min read
