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Legion Partners Asset Management, LLC, which, together with its affiliates (collectively, “Legion Partners”), beneficially owns 2,773,946 shares of common stock of OneSpan Inc. (“OneSpan” or the “Company”) (Nasdaq: OSPN), representing approximately 6.8% of the outstanding stock, today issued an open letter to stockholders. In the letter, Legion Partners announced it has nominated four highly-qualified independent directors for election to the Company’s Board of Directors (the “Board”) at the Company’s 2021 annual meeting of stockholders: Sarika Garg, Sagar Gupta, Michael J. McConnell and Rinki Sethi. Legion Partners also outlined its concerns with the Company’s persistent and significant valuation discount to its peers, poor corporate governance, and misguided capital allocation, and detailed its belief that the Company should undergo a comprehensive strategic review that could return
Reuters Reuters
23 February, 2021, 6:49 am
FILE PHOTO: The logo and trading informations for Kohl s is displayed on a screen on the floor at the New York Stock Exchange (NYSE) in New York, U.S., January 13, 2020. REUTERS/Brendan McDermid
(Reuters) – A group of activist investors with about 9.5% stake in Kohl’s Corp is attempting to take control of the department store chain’s board, The Wall Street Journal reported on Sunday.
Investors including Macellum Advisors GP LLC, Ancora Holdings Inc, Legion Partners Asset Management LLC, and 4010 Capital LLC had earlier this year nominated nine people to its now-12-person board, the newspaper said, citing people familiar with the matter.
Menomonee Falls-based
shake up the retailer’s board of directors in an effort to improve performance.
The group Monday morning released a 27-page open
letter, which nominates nine replacement candidates for Kohl’s 12-person board and includes plan to grow sales, cut expenses, adjust executive compensation and proposes a large-scale sale-leaseback program for the company’s real estate assets.
Kohl’s issued a response hours later:
“We reject the investor group’s attempt to seize control of our board and disrupt our momentum, especially considering that we are well underway in implementing a strong growth strategy and accelerating our performance, and we have refreshed half our board with six new independent directors since 2016.”
Goodyear to buy Cooper, joining two American tire companies
Updated February 22, 2021, 8:40 p.m.
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Goodyear to buy Cooper, joining two American tire companies
Two of the biggest remaining American tire companies are joining forces. Goodyear Tire & Rubber Co. is acquiring Cooper in a deal with an equity value of $2.8 billion that will combine the two century-old Ohio manufacturers. Cooper, founded in 1914, is the fifth largest tire maker in North America based on revenue. The company has about 10,000 employees in 15 countries. In addition to the Cooper brand, it also owns Mastercraft, Roadmaster, and Mickey Thompson. For Goodyear, the bigger company, the deal will nearly double its presence in China. Cooper will get access to Goodyearâs 2,500 retail locations. The companies had combined sales of $19.5 billion in 2019. By combining, the new company would save about $165 million within two years of closing and free up cash in tax savings. It will also bring an a