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No surprise here: CalSTRS will vote against all members of Timken's (TKR) Nominating and...

No surprise here: CalSTRS will vote against all members of Timken's (TKR) Nominating and Corporate Governance Committee and against John M Timken Jr. at the company's shareholders meeting next month. CalSTRS decision stems from the ongoing dispute (I, II, III) between it and Relational Investors on one side and TKR on the other regarding a proposed spinoff of the company's steel business, something TKR calls "misguided." The plan is clearly "the best way to eliminate the conglomerate discount" the market assigns to TKR's shares, CalSTRS said Tuesday.
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Comments (1)
  • pigeonguy
    , contributor
    Comments (131) | Send Message
     
    I voted all my shares for the TKR recommendations. A
    spin off is not always in the long term best interest of the company, workers and shareholders.
    16 Apr 2013, 10:43 PM Reply Like
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