Mattress company Purple Innovation ‘disappointed’ that hedge fund Coliseum wants to replace most of its board after making bid for company

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 51 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 24%
  • Publisher: 97%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

Mattress maker Purple Innovation Inc. said Thursday it is “disappointed” that within days of a special committee rejecting a bid for the company from...

Mattress maker Purple Innovation Inc.

said Thursday it is “disappointed” that within days of a special committee rejecting a bid for the company from Coliseum Capital Management LLC, the hedge fund is seeking to replace most of the board. “The Special Committee acknowledges that Coliseum, as a 44.7% shareholder of Purple, is entitled to reasonable representation on the Board, and notes that Coliseum’s Managing Partner Adam Gray has served on the Board since the time that Purple went public in 2018,” the company said in a statement.

said Thursday it is “disappointed” that within days of a special committee rejecting a bid for the company from Coliseum Capital Management LLC, the hedge fund is seeking to replace most of the board. “The Special Committee acknowledges that Coliseum, as a 44.7% shareholder of Purple, is entitled to reasonable representation on the Board, and notes that Coliseum’s Managing Partner Adam Gray has served on the Board since the time that Purple went public in 2018,” the company said in a statement.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

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

Greenlight's David Einhorn is shorting innovation stocks like those held by Cathie WoodGreenlight Capital's David Einhorn made a successful bet against a slew of innovative technology stocks. Laces out
Source: CNBC - 🏆 12. / 72 Read more »