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Business

Ferro, Dissidents Reach An Agreement

by Marc S. Reisch
May 13, 2013 | APPEARED IN VOLUME 91, ISSUE 19

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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