Market Chatter: Nabors Shareholders Back Proxy Access Resolution - Wall Street Journal

By Staff,

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Nabors Industries Ltd. ( NBR ) shareholders approved a proposal that could give them more power to oust the oil driller's directors, the first time a so-called proxy access resolution has passed at a major company, according to a Wall Street Journal report.

The proposal, which calls on Nabors to let big investors list competing board candidates on official company ballots, won a majority of the vote Tuesday at the drilling contractor's annual meeting in Hamilton, Bermuda.

NBR shares are up 1% to $13.02, but off a day high $13.36.

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This article appears in: Investing Commodities
Referenced Stocks: NBR

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