Mosaid avoids proxy fight; makes deal with hedge fund

Dylan McGrath, EE Times
(09/22/2006 3:28 PM EDT)
 
SAN FRANCISCO — Intellectual property (IP) provider Mosaid Technologies Inc. struck a deal with an activist hedge fund Friday (Sept. 22), ultimately preventing proxy fight, according to reports.

Mosaid agreed to expand its board to 10 directors —seven nominated by management and three by the hedge fund, Loeb Partners LLC, according to a Bloomberg report.

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