JANA's Rosenstein slams Agrium, Canadian corporate governance

By Lawrence Delevingne

Tue Apr 30, 2013

Views from Barry Rosenstein and other activist investors at the Milken Global Conference.

Barry Rosenstein
(Photo: Lawrence Delevingne)
LOS ANGELES -- Prominent activist hedge fund investor Barry Rosenstein of $5 billion JANA Partners won't be investing in Canadian companies anytime soon.

The JANA founder reflected this Tuesday on his recently failed proxy contest with Calgary-based fertilizer maker Agrium during a discussion of activist investing at the Milken Institute's Global Conference in Los Angeles, saying the company's actions had cooled his view of investing in the chilly country.

"There's a cost to what they did. There's a cost to corporate governance in Canada. Will I think twice about going back to Canada? Yeah, I would. That's not good for shareholders or values of Canadian stocks," Rosenstein said of Agrium,...


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