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Longacre Square Partners represented Hestia Capital Management hedge fund as it won its proxy fight at Pitney Bowes.
PB announced on May 9 that a preliminary vote count found that shareholders voted in support of four of Hestia’s five nominees to the nine-member board.
A PB spokesperson told the Wall Street Journal that the shipping services company looks forward to working constructively with the Hestia-backed directors on the future of the company and on behalf of all shareholders.
Kurt Wolf, Hestia founder and newly minted PB director, said his group is eager to work with incumbent directors to spur a value-generating turnaround at PB.
The proxy fight was one of the first to be waged under new SEC rules that allow investor groups greater ability to place new members on corporate boards.
The rules mandate the use of universal proxy cards that list the names of all director candidates whether they were nominated by management or by outsiders.
Longacre Square Partners’ Greg Marose, Charlotte Kiaie, Casie Connolly and Miller Winston handled Hestia’s run at PB.
FGS Global represents Copart as the online vehicle auction company acquires auto marketplace and data services business ACV, a Joele Frank client, in a deal valued at $1.9B.
BGR Group represents Noble Supply and Logistics as it files for Chapter 11 due to a change in its weapons support contract with the Defense Logistics Agency.
C Street Advisory Group is handling the Chapter 11 filing of LIV Golf following the move by Saudi Arabia’s Public Investment Fund to pull the financial plug on the League. (Updated)
Teneo handles Bamboo Insurance Services as the Midvale, UT-based marketer of homeowner policies files a Form S-1 statement with the SEC for an initial public offering.
FTI Consulting handles West Marine as the nation’s leading retailer of marine parts and accessories for boating, fishing and sailing enthusiasts emerges from Chapter 11 bankruptcy.
