April 8, 2015
Willkie represents shareholder P. Schoenfeld in special dividend proposal.
On March 24, Willkie client P. Schoenfeld Asset Management LP announced a proposal to Vivendi SA's shareholders to return capital to shareholders in an amount of €9 billion by way of distribution of a special dividend. On April 8, Vivendi announced that it has reached an agreement with P. Schoenfeld, promising new dividends that will push Vivendi’s overall cash return to shareholders to €6.75 billion ($7.3 billion). In return, P. Schoenfeld has agreed to withdraw its two resolutions regarding the €9 billion dividend proposal. Vivendi is owner and the largest shareholder of Universal Music Group, the world's largest record label in terms of sales.
The matter is being handled by partners Daniel Hurstel and Jack Nusbaum, national partner Gabriel Flandin, along with associates Liza Scemama and Grégoire Dumazy.
