The Toronto-based software company said Engine Capital’s slate of six board nominees amounts to a “a zero-premium takeover of Dye & Durham for [Engine’s] gain.” The nominees for its seven-person board are an “attempt at a wholesale replacement of the board and management team,” it added. (The Logic)
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The Toronto-based software company said Engine Capital’s slate of six board nominees amounts to a “a zero-premium takeover of Dye & Durham for [Engine’s] gain.” The nominees for its seven-person board are an “attempt at a wholesale replacement of the board and management team,” it added. (The Logic)
Talking point: Engine Capital, which says it owns over seven per cent of Dye & Durham’s outstanding common shares, said that the slate aims to fix the legaltech firm’s low valuation with “long-overdue strategic and governance improvements.” The nominees include Engine’s founder, Arnaud Ajdler, as well as Hans Gieskes, former CEO of LexisNexis, Ritu Khanna, vice-president of global partnerships at Shopify, and former Thomson Reuters executive Anthony Kinnear. Dye & Durham, which has been considering selling itself but has faced opposition from Engine, criticized the slate as unqualified for the roles.
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