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BlackRock is facing significant shareholder activity and scrutiny ahead of upcoming annual meetings for its closed-end funds BFZ, BSTZ, BNY, MPA, and MYN. Institutional Shareholder Services (ISS) and Glass Lewis have recommended that shareholders vote for all BlackRock board nominees and against Saba's proposals to terminate BlackRock as the investment adviser for these funds. In response to ongoing criticism regarding its environmental, social, and governance (ESG) practices, BlackRock has expanded its proxy voting program to include Egan-Jones and an anti-ESG option. This move has been met with mixed reactions, with some critics labeling it as 'too little, too late.'
ISS speaks about @blackrock today. “It is rare to witness a board so brazenly flout the most basic of shareholder rights in furtherance of its own entrenchment.” Read on below! https://t.co/ZelBNHzR8z
Glass Lewis Recommends Shareholders Fully Support BlackRock Board Nominees at BFZ, BNY and MYN, and Reject Saba’s Proposal to Terminate BlackRock as Investment Adviser of BFZ on WHITE Proxy Card at Upcoming CEF Annual Meetings https://t.co/o9B5YgqIkv https://t.co/7WRwtOzXVL
Struggling Swedish landlord SBB is set for a showdown with shareholders at the end of the month after an influential proxy adviser says investors should vote against the company’s proposal to appoint a new chairman https://t.co/ffqbCtNzCn
