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,...

TAKE A FREE TRIAL

The full contents of this article are available to Absolute Return subscribers and trialists only.

To continue reading please, take a free trial, subscribe or log in.


Subscribe

Subscribers have unlimited access to all current and archive content. Start your subscription today - click on the button below.

Subscribe now