Market Overview

Starboard Nominates 3 to Wausau Board

Related WPP
Pivotal Research Downgrades WPP Due To Valuation
KPS Capital Partners Portfolio Company, Expera Specialty Solutions Acquires Old Town Fuel & Fiber

Starboard Value LP (together with its affiliates, "Starboard"), the largest shareholder of Wausau Paper Corp. ("Wausau" or the "Company") (NYSE: WPP) with approximately 14.8% of the outstanding common stock of the Company, announced today that it filed preliminary proxy materials with the SEC regarding the election of directors to the Wausau Board at the 2013 Annual Meeting.  Starboard explained in its preliminary proxy that the current Board has been unwilling to explore value maximizing alternatives for the Company and has instead only been interested in maintaining the status quo unless faced with the pressure of an impending proxy contest. 

Posted-In: StarboardNews Management

 

Related Articles (WPP)

Around the Web, We're Loving...

Get Benzinga's Newsletters