Relational Investors LLC

News & Analysis

relational investors llc and sovereign bancorp inc. - All News and Analysis

• Relational Challenges Pennsylvania Legislation: Constitutional Mandates Sidestepped for Sovereign

  - 2006-03-02

  SAN DIEGO -- Relational Investors LLC, the largest shareholder of Sovereign Bancorp, Inc. (NYSE: SOV) with approximately 8.4% of the outstanding shares, announced today that it has filed a lawsuit against the Commonwealth of Pennsylvania seeking to invalidate Act 6 of 2006, the recently enacted special legislation passed for the...

  Tags: FINANCE, SEC, shareholder, Sovereign Bancorp Inc.

• Rendell signs bill aiding Sovereign

  - 2006-02-11

  Gov. Rendell signed into law yesterday a bill designed to protect Sovereign Bancorp Inc. against dissident investors. Brushing aside complaints by Relational Investors L.L.C., Franklin Mutual Advisers L.L.C., and other big Sovereign shareholders that Senate Bill 595 unfairly benefits the bank's executives at the expense of shareholders' rights, Rendell...

  Tags: bank, FINANCE, Pennsylvania, shareholder, Sovereign Bancorp Inc., U.S. Senate

• Relational Investors Responds to Proposed Pennsylvania Legislation

  - 2006-02-03

  SAN DIEGO, Calif. -- Relational Investors LLC, the largest shareholder of Sovereign Bancorp, Inc. (NYSE: SOV) with 8% of the outstanding shares, today issued the following statement in response to passage of SB-595 by the Pennsylvania Legislature: "According to press reports, including an article in this morning's Philadelphia Inquirer,...

  Tags: FINANCE, investor, SEC, shareholder, Sovereign Bancorp Inc.

• Santander Responds to Relational Lawsuit

  - 2005-12-13

  MADRID -- Regarding the lawsuit filed by Relational Investors in the U.S. District Court for the Southern District of New York against Sovereign Bancorp, Inc. and Banco Santander Central Hispano S.A., Santander said: "The lawsuit is totally without merit." Santander (SAN.MC, STD.N) is the 9th largest bank in the...

  Tags: Banco Santander Central Hispano S.A., Sovereign Bancorp Inc.

• Relational Sues Sovereign and Santander; Alleges Pennsylvania Law Obligates Santander to Pay ``Fair Value'' to All Shareholders

  - 2005-12-12

  SAN DIEGO -- Relational Investors LLC, the largest shareholder of Sovereign Bancorp, Inc. (NYSE: SOV), announced today that it has filed a lawsuit in U.S. District Court for the Southern District of New York against Sovereign Bancorp, Inc. and Banco Santander Central Hispano, S. A. (NYSE: STD). The lawsuit...

  Tags: FINANCE, SEC, shareholder, Sovereign Bancorp Inc.

• Relational Asks Sovereign to Explain Discrepancies between Previous Statements and Disclosures in Independence Proxy

  - 2005-12-06

  SAN DIEGO -- Relational Investors LLC today called upon Sovereign Bancorp, Inc. (NYSE: SOV) to provide an immediate explanation to its stockholders of significant discrepancies between its previous statements and the disclosures made by Independence Community Bank Corp. (NYSE: ICBC) in its proxy statement filed on November 29, 2005. ...

  Tags: Independence Community Bank Corp., Sovereign Bancorp Inc.

• Relational Requests Clarification of Major Contradiction in Sovereign's Statements

  - 2005-11-10

  SAN DIEGO -- On October 25, 2005, during an investor conference call sponsored by Sovereign Bancorp, Inc. (NYSE: SOV), Sovereign's Chairman and CEO Mr. Jay S. Sidhu made the following statement:"It (the Investment Agreement between Banco Santander Central Hispano, S.A. and Sovereign (the "Investment Agreement")) ...

  Tags: Company, FINANCE, Investment, SEC, Sovereign Bancorp Inc., Strategy

• Relational Petitions NYSE to Require Shareholder Vote

  - 2005-11-08

  SAN DIEGO -- Relational Investors ("Relational") today submitted a petition to the New York Stock Exchange NYSE to require a shareholder vote for the proposed Sovereign Bancorp (NYSE: SOV) transaction with Banco Santander. Relational, the largest shareholder of Sovereign Bancorp, is also seeking the election of two independent directors to...

  Tags: FINANCE, NYSE Euronext, SEC, shareholder, Sovereign Bancorp Inc.

• Relational to Webcast Shareholder Forum

  - 2005-11-08

  SAN DIEGO -- Today Relational Investors announced that due to the high level of interest in its Sovereign Bancorp Shareholder Value Forum held today, the forum will be broadcast via the Internet beginning at 9:00 a.m. EST tomorrow. The Forum was held Tuesday, November 8, 2005, from 10:00 a.m....

  Tags: FINANCE, shareholder, Sovereign Bancorp Inc., Webcast