The largest shareholder in Knight Ridder is turning up the pressure on the newspaper publisher, saying in a regulatory filing Thursday that it may nominate a slate of directors at the company’s annual meeting next year.
Private Capital Management, an investment firm based in Naples, Fla., said it was considering that and other moves to boost the value of its 19 percent stake in Knight Ridder after seeing only a “limited response” to the “serious concerns” about the company raised by PCM and other shareholders. PCM is demanding that Knight Ridder put itself up for sale.
Reuters: PCM added that it also plans “to unilaterally engage in other activities focused on realizing fair value for the company’s shareholders including, among other things, engaging in discussions with the company, other shareholders and third parties regarding issues related to the maximization of shareholder value.”
Investor Turns Up Heat on Knight Ridder For Sale
Summary:
The largest shareholder in Knight Ridder is turning up the pressure on the newspaper publisher, saying in a regulatory filing Thursday that…
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