Businessweek Archives

Peace Comes To Michigan National


In Business This Week

PEACE COMES TO MICHIGAN NATIONAL

SHAREHOLDERS HAVE NOT been happy with Michigan National Chairman Robert Mylod, whose decade-long tenure has been marked mainly by underachievement. So on Feb. 6, Mylod found a buyer. National Australia Bank will pay $1.5 billion in cash, or $110 a share, for Michigan National. Presto: No more angry investors--their stock traded below 60 a year ago--and a likely proxy battle averted. Mylod even gets to keep his chairman's title, though President Douglas Ebert will be CEO.EDITED BY KEITH H. HAMMONDS


Race, Class, and the Future of Ferguson
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

 
blog comments powered by Disqus