Posts Tagged ‘Business’
Who wants to be a public company?
As described in this Bloomberg article, shareholders have sued the directors of Onyx Pharmaceuticals for a breach of their fiduciary duty in approving a merger with Amgen Inc. The related SEC filings by Onyx and Amgen provide a nice window into the burdens of being a public company.
On Aug. 26, Onyx filed an 8-K reporting the consummation of the merger agreement just two days earlier (and an identical Form SC to-C, “Written communication relating to an issuer or third party”); two Schedule 14D-9’s providing required disclosures by an issuer regarding a third-party tender offer and a letter to Onyx customers apprising them of the merger; and a tender offer statement attaching the transcript and slideshow presentation for an Aug. 26 conference call with analysts. On Aug. 27, it filed another Schedule 14D-9 comprising a Q&A on the merger for its employees. On Aug. 26, Amgen filed its 8-K (and matching Form SC to-C) on the merger, and its tender offer statement on the Aug. 26 analyst call. On Sep. 3, both Onyx and Amgen filed a statement of the tender offer on Schedule TO, and Onyx filed its shareholder solicitation and recommendations on Schedule 14D-9.
Between Aug. 28 and Sep. 4, various plaintiffs filed six class actions alleging a breach of fiduciary duty by the Onyx directors. On Friday, Sep. 6, Onyx and Amgen filed amended Schedule 14D-9s that briefly describe the lawsuits. Stay tuned for Monday’s filings!
Charisma leads to workplace influence. Five ways to boost your charisma at work!
There are two professionals every business will need early on: an accountant and a lawyer. A good business attorney will provide vital assistance in almost every aspect of your business, from basic zoning compliance and copyright and trademark advice to formal business incorporation and lawsuits and liability.
It is no secret that T-mobile has been considered the underdog in the cell carrier network. They haven’t had the best reputation, considering they are the last of the big four providers to offer the Apple iPhone, and their data network is also the smallest of the big four. The tides could be turning for T-Mobile, or at least that is their hope.
T-Mobile announced today that they will be getting rid of locked-in phone contract plans for all of their customers. They will not be requiring a two year commitment to T-mobile however. The catch? They will not be subsidizing phone purchases. This is a radical step away from the traditional model phone companies have been using over the last several years.
Is this move enough to save T-Mobile and give them a competitive edge with their new plan? Will other cell phone companies follow T-Mobiles lead and eliminate contracts? Only Time will tell.
To read more of T-Mobile’s new plan, CNET has a breakdown of today’s announcement here.