Starboard Spurns Office Depot Compromise In Proxy Fight

Law360, New York (August 14, 2013, 4:26 PM EDT) -- Activist hedge fund Starboard Value LP on Wednesday rebuffed Office Depot Inc.'s offer to appoint a trio of its board nominees, saying the company's stab at compromise in an ongoing proxy fight was "flawed and unprofessional."

Office Depot's offer, which came after Starboard convinced a Delaware court to force the elections, hinged on the re-election of a pair of directors who sit on the company's CEO selection committee. Under the deal's terms, if incumbent board members Tom Colligan and Marsha Evans held their seats, then three...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.