Business Services Industry
Proxy fight looming: investors battle management for Horizon seats. (Horizon Financial Services Inc.)
Crain's Cleveland Business, April, 1992 by Shingler, Dan
A good ol' fashioned proxy fight is on the bill for Horizon Financial Services Inc.'s April 23 annual meeting, and both sides have brought powerhouse managers into their corners as they prepare to brawl for shareholder support. In one corner is a group of investors, led by John Northway, that has dubbed itself the Committee to Protect Shareholder Value at Horizon Financial.
It weighs in with 9.998% of Horizon's stock. The group is represented by Georgeson & Co., a New York firm which specializes in proxy fights. Georgeson has represented such big names as NCR Corp., Lockheed Corp. and Gillette Co. in proxy battles. In the other corner is Horizon's management and board of directors, led by Horizon president Lynn Fritzsche. It weighs in with a slightly heavier 10.3%...
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