By Rod Boshart, Special to the Globe Gazette
DES MOINES â Farm interests, fuel retailers and others whipsawed a state Senate panel Thursday over a legislative proposal seeking to push more use of renewable fuels that proponents hailed as an economic boon for Iowa-based industries and critics panned as a government intrusion that would cost drivers more at the pump.
Five members of a Senate Ways and Means subcommittee heard over 75 minutes of impassioned testimony on a bill Gov. Kim Reynolds introduced to promote more ethanol and biodiesel sales in Iowa, but that House Speaker Pat Grassley, R-New Hartford, conceded to reporters âis a difficult pushâ as the 2021 legislative session pushes toward adjournment.
What You Need to Know
Iowa regulators have approved the deal.
Egan-Jones and Glass Lewis have blessed it.
Institutional Shareholder Services dislikes it.
FBL Financial Group Inc. may be having trouble getting enough shareholder votes to go private.
The West Des Moines, Iowa-based insurer announced Thursday that it’s pushing the shareholder approval deadline for a proposed acquisition by a sister company back to May 21.
FBL has been trying to get approval for the deal from a majority of the shares held by outside investors through a special meeting process.
“Based on a preliminary assessment of votes received by the company’s proxy solicitor, the unaffiliated shareholder vote had not been obtained as of April 29, 2021,” FBL said in a notice filed with the U.S. Securities and Exchange Commission. “Accordingly, the special meeting is being adjourned to provide the company with additional time to solicit proxies from its shareholders to obtain the unaffiliated sharehold
FBL Financial extends contested merger vote to May 21
BY BUSINESS RECORD STAFF Thursday, April 29, 2021 11:06 AM Shareholders of FBL Financial Group Inc. will have about another three weeks to consider how to vote on a merger proposal to take the company private.
Shareholders who convened for a special meeting this morning to finalize the vote instead agreed to adjourn the meeting until May 21, so that additional proxy votes could be solicited. Shareholders are being asked to vote on a definitive agreement through which Farm Bureau Property & Casualty Insurance Co. would acquire all of the outstanding shares of FBL Financial Group Class A and Class B common stock, excluding shares owned by FBPCIC and the Iowa Farm Bureau Federation for $56 per share in cash.
FBL Financial receives FINRA approval for proposed merger transaction businessrecord.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businessrecord.com Daily Mail and Mail on Sunday newspapers.
FBL Financial receives FINRA approval for proposed merger transaction businessrecord.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businessrecord.com Daily Mail and Mail on Sunday newspapers.