Box shareholers re-elect company directors; Starboard fails to win any seats

:Box Inc won a proxy contest against Starboard Value after the cloud services provider's shareholders backed all three board directors the hedge fund was challenging, Box said on Thursday.

Starboard, which owns an 8.4per cent stake in Box, has not lost a proxy vote in nearly a decade and is known in the industry for having won big victories at Darden Restaurants in 2014 and at GCP Applied Technologies last year. It traditionally wins more board seats than any other activist investor, according to bankers and analysts.

Starboard was especially concerned with a US$500 million convertible preferred offering led by private equity giant KKR, which the hedge fund described as a defensive tactic.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Director jailed for cheating banks, getting others to make false declarations about company ownershipSINGAPORE: A company director was sentenced to four weeks\u0027 jail on Wednesday (Sep 8) for conspiring to cheat banks by making false declarations about the beneficial owners of several firms. Russian national Koryagin Vadim, 53, was the director of MEA Business Solutions. It was set up in 2014 to help f
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »