Starboard Eyes Proxy Fight For More Wausau Board Seats

Law360, New York (January 17, 2014, 11:50 AM EST) -- Activist investor Starboard Value LP is out for an even bigger voice at Wausau Paper Corp., saying Friday it wants three more seats on the company's board as part of an ongoing plan to ramp up shareholder returns.

The fund is Wausau's single-largest shareholder, with a 15.2 percent stake. Its latest proposal would give it a total of seven board seats on the company's nine-member board.

For more than two years, New York-based Starboard has torn into the paper products company, spearheading effort to make it...
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