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Independent Analyses
Egan-Jones Report
The
Egan-Jones Proxy Services division of
Egan-Jones Ratings Co., an independent research firm which is
recognized for its financial analyses of companies for institutional
investor clients, published a report on August 17, 2005 and granted
permission for the use of its report in this Forum program.
♦♦♦
Glass Lewis Report
Glass, Lewis & Co., an
independent research research and proxy advisory firm serving
institutional investors, published a report on August 19, 2005 and
granted permission for its use in this Forum program.
♦♦♦
Proxy Governance
Report
PROXY Governance, Inc., a new subsidiary of
FOLIOfn offering independent proxy advisory services to
investors,
published a report dated August 18, 2005 and granted permission for
its use in this Forum program.
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The New York
Times
Gretchen Morgenson
August 14, 2005
"Sometimes
Investors Should Just Say No"
(see referenced August 10, 2005
letter)
and
August 21, 2005
"And They Call This Advice?"
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Investor Views
San Francisco Chronicle
August 25, 2005
"Providian
Takeover contested"
♦♦♦
Reuters
August 26, 2005
"Debate over
Providian appraisal rights heats up"
♦♦♦
Associated Press
August 29, 2005
"Providian Holders
to Vote on Acquisition"
♦♦♦
Reuters
August 29, 2005
"Providian
debate shows dealmaking art, not science"
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Voting Result
67%
of Shareholders Approve Merger
See
Associated Press
August 31, 2005
"Providian Shareholders
Approve Sale"
♦♦♦
ISS Controversy
Wall Street Journal
November 16, 2005
"ISS Pressed On
Conflict By Governance Expert Millstein"
♦♦♦
Dow Jones Corporate Governance
November 9, 2005
"ISS Advisor-Consultant
Conflicts Raised As Governance Activist Goes Corporate"
♦♦♦
Investor Relations Magazine
(IRontheNet.com)
September 2,
2005
"The IR
behind the Providian deal | Juggling investor opposition and a media frenzy"
♦♦♦
The Deal
September 2, 2005
"Media
Maneuvers | Friends"
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Letter Requesting Providian
Management Cooperation with Independent Analysis
(August 10, 2005)
♦♦♦
Putnam Investments press
release:
"Putnam Intends to Vote Against
Proposed Merger of Providian Financial Corporation with Washington Mutual
Inc."
(August 1, 2005)
♦♦♦
Prospectus
(dated August 1, 2005)
Background Reference
July 21, 2003
Investment Dealers Digest:
"Fairness Opinions"
♦♦♦
November 24, 2003 BusinessWeek:
"A Fair Deal -- But For
Whom? | Fairness opinions in acquisitions are rife with conflicts -- and
coming under fire"
♦♦♦
February 24, 2004 The Deal:
"The deal evaluators"
♦♦♦
June 11,
2004 Wall Street Journal (PAGE
ONE):
"NASD
Scrutinizes Conflicts
In Bankers' 'Fairness Opinions'"
♦♦♦
December 29,
2004 Wall Street Journal (PAGE
ONE):
"Good Reviews | Opinions Labeling
Deals 'Fair' Can Be Far From Independent | Banks That Do Them Often Are
Advisers on Transactions And Have Fees at Stake"
♦♦♦
February
8, 2005 Wall Street Journal:
"Wall
Street's 'Fairness Opinions' Draw Fire From Calpers"
♦♦♦
March 20, 2005 New York Times (DealBook column):
"Mergers:
Fair Should Be Fair"
♦♦♦
May
29, 2005 New York Times (Morgenson column):
"Mirror, Mirror, Who Is the
Unfairest?"
♦♦♦
June 9, 2005 New York Times:
"Pathmark Vote
Tests Wider Issues of Shareholder Control"
♦♦♦
June
19, 2005 New York Times (Morgenson column):
"Yes, They Can Say No to a
Merger"
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