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Joele Frank, Wilkinson Brimmer Katcher is working with GameStop as the troubled video game/consumer electronics retailer irons out a deal to ward off a proxy fight with Hestia Capital Partners and Permit Enterprise Capital Partners.
The Austin-based company has agreed to nominate two independent directors. One will be put forward by Hestia and Permit, and the other will be selected by GameStop with input from the two investors.
With the deal, Hestia and Permit will withdraw their proposed director-nominees.
GameStop, which lost $455M on $5.7B revenues during the nine-month period ended Nov. 3, named a new CEO on March 21.
George Sherman assumes the helm on April 15 to become the company’s fifth chief since Nov. 2017. He succeeds Shane Kim, interim CEO since last May.
JFWBK’s Matthew Sherman and Aura Reinhard rep GameStop, which has more than 5,800 stores in 14 countries.
Teneo represents American Ocean Minerals Corp as its merges with NASDAQ-listed Odyssey Marine Exploration to create a $1B deep-sea critical minerals research and mining platform that is under US-control.
Kekst CNC represents Cleveland-based Everstream as the business-only fiber network receives bankruptcy court approval for the sale of almost all of its operations to Bluebird Fiber for $385M.
FTI Consulting handles media for McCormick as the 137-year-old flavors company combines with Unilever Foods in a deal valued at $45B.
Edelman Smithfield handles Sysco as the world's largest food-away-from-home distributor acquires Foxcroft Strategy Group client Jetro Restaurant Depot, which serves delis and mom & pop shops, in a deal valued at $29B.
FGS Global represents Brown-Forman Corp. as it confirms merger discussions with French liquor giant Pernod Ricard.
