This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

UtiliCorp to Mount Proxy Fight for Quanta Board

Quanta Services (PWR - Get Report) plans to "vigorously oppose" an attempt by UtiliCorp (UCU) to take control of the company's board.

According to a Quanta press release, UtiliCorp, which owns 38% of Quanta, said in a 13-D filing Friday that it will attempt to have its nominees elected to the Quanta board via a proxy motion. Quanta responded that the threat reflects Utilicorp's desire to consolidate Quanta's results with its own earnings in order to meet market earnings expectations.

Quanta Chief Executive John Colson said, "handing the company to UtiliCorp to satisfy its financial and accounting agenda is not in the best interest of Quanta's shareholders."

The companies had been discussing voluntary financial consolidation, but the negotiations fell through, precipitating the filing by UtiliCorp. UtiliCorp said it would name its director slate within the time period required by Quanta's bylaws, and its slate would consist of six individuals that are affiliated with UtiliCorp and three that are independent from both UtiliCorp and Quanta.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
PWR $23.72 0.00%
AAPL $93.74 0.00%
FB $117.58 0.00%
GOOG $693.01 0.00%
TSLA $240.76 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs