TIAA-CREF has reached agreement with all but one company over the shareholder proposals it had submitted in the current annual meeting season.
Only Mobil has a proposal from CREF on its proxy, asking the company to seek shareholder approval before placing ``blank-check'' preferred stock in the hands of any investor, except when that is done to raise capital, or to make acquisitions in the normal course of business. CREF feels such blank-check preferred stock could discourage takeover offers.
The proposal will be voted upon at the company's annual meeting tomorrow. CREF withdrew this resolution from three other companies that agreed to address the fund's concerns.
