February 6, 2020 / 4:56 PM / 14 days ago

BlackRock says shareholder proposals can be valuable, cites cost

BOSTON, Feb 6 (Reuters) - BlackRock Inc cited the value and costs of shareholder proposals in a letter to regulators weighing reforms to the proxy process, and did not specifically comment on ideas like raising the current $2,000 threshold needed to file some resolutions.

In the letter dated Feb. 3 and provided by a BlackRock spokesman on Thursday, the top asset manager wrote that “Shareholder proposals can be a valuable part of an investment stewardship process, however, it should be acknowledged that the costs of these proposals are borne by all shareholders.” (Reporting by Ross Kerber Editing by Chizu Nomiyama)

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