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Stock impact report

GAMCO: Glass Lewis Firmly Opposes Dril-Quip Merger

Dril-Quip, Inc. (DRQ) 
Last dril-quip, inc. earnings: 2/27 05:36 pm Check Earnings Report
Company Research Source: Business Wire
GREENWICH, Conn.--(BUSINESS WIRE)--GAMCO Asset Management Inc. (“GAMCO”), an affiliate of GAMCO Investors, Inc. (OTCQX: GAMI), on behalf of its clients and certain of its affiliates owns approximately 2,872,654 shares of Dril-Quip, Inc. (NYSE: DRQ) (“Dril-Quip”), representing 8.34% of the 34,452,230 outstanding shares. GAMCO intends to vote “Against” the proposed merger with Innovex Downhole Solutions (“Innovex”).On August 23, 2024, Glass, Lewis & Co. LLC (“Glass Lewis”) published its report regarding Dril-Quip’s merger with Innovex. Glass Lewis recommends that stockholders vote “Against” all proposals at Dril-Quip’s Special Meeting of Stockholders scheduled for September 5, 2024. The report cites “problematic merger provisions” and a “significant loss of value” amongst the key reasons for their opposition. GAMCO commends Glass Lewis for its diligent analysis and attention to these critical issues.Late Proxy Amendment: Today, Dril-Quip amended its proxy statement to remove the req Show less Read more
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