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NEW YORK Interpublic Group shareholders today narrowly defeated a proposal that would have lowered the threshold for IPG investors to call special meetings, though the measure did gain support compared to past votes on similar proposals.
The latest resolution, similar to measures put forth in 2007 and ’08, would have enabled holders of 10 percent of IPG’s outstanding common shares to call such meetings. The current threshold is 25 percent.
Shareholders representing 50.18 percent of all votes cast rejected the proposal, following the advice of IPG management.
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