Angered by Mentor Graphic’s actions, investor Carl Icahn says he will nominate three directors to the company’s board.
Angered by Mentor Graphic’s actions, investor Carl Icahn says he will nominate three directors to the company’s board.
On Monday, a hedge fund called Casablanca Capital wrote to Mentor complaining that the company isn’t allowing shareholders enough time to nominate outsiders to the company’s board. Casablanca said it would submit a rival slate of board nominees.
Icahn, who owns about 15 percent of Mentor’s stock, said today in a regulatory filing that he was also concerned when he learned the company would allow just 10 days to nominate a “dissident slate” of board members.
“We, at that time, called the Company and stated that, in light of our prior friendly discussions, we viewed the announcement as a hostile and unprovoked defensive tactic intended to impede shareholder rights. We asked the Company to rescind the announcement, which it refused to do,” Icahn’s group wrote.
Read more at OregonLive.com.
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