Univision Sets Date for Merger Meeting
Univision’s shareholders will be asked to approve the company’s merger agreement with Umbrella Holdings on Sept. 27 at the Hotel Bel-Air. The date and location of the meeting was one of the few new details included in the definitive proxy agreement filed with the Securities & Exchange Commission Feb. 25.
The only additional novelty of note is that on Aug. 4, the pension plan of Local 525 of the Plumbers and Pipefitters Union became the third group seeking to file a class-action lawsuit against the Spanish-language broadcaster’s board of directors.
Curiously, there is no indication in this filing or others that Mexican broadcaster Grupo Televisa S.A. has already sold its stake in Univision. On June 30, Televisa executive vice president Alfonso de Angoitia sent a letter to Umbrella Holdings seeking to negotiate the sale of its shares in Univision “as soon as possible.”
Seven weeks later, no sale has occurred, or at least none has been reported to the SEC.
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