Ferro, Dissidents Reach An Agreement | Chemical & Engineering News
Volume 91 Issue 19 | p. 24 | Concentrates
Issue Date: May 13, 2013

Ferro, Dissidents Reach An Agreement

Department: Business
Keywords: proxy fight, corporate directors, dissident directors

Ferro and dissident shareholders Quinpario Partners and FrontFour Capital Group have buried the hatchet and now jointly support a revised slate of directors for election at the company’s May 15 annual meeting. Ferro will now support the election of Quinpario’s Jeffry N. Quinn and FrontFour’s David A. Lorber. A third dissident representative, Nadim Qureshi of Quinpario, will not stand for election and instead a current Ferro board member will be the third candidate. After the election, Quinn, Lorber, and three yet-to-be-determined Ferro directors will form a committee to look at ways to enhance shareholder value. Sure to be considered is an unsolicited takeover bid made in March by the plastics company A. Schulman.

 
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