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Kohl s financial performance unlikely to ease investor pressure, say observers
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Kohl s sees improving sales, easing some activist pressure
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Ancora Nominates Four Highly-Qualified Candidates for Election to the Board of Blucora, Inc.
February 25, 2021 GMT
CLEVELAND (BUSINESS WIRE) Feb 25, 2021
Ancora Holdings, Inc. (together with its affiliates, “Ancora”), which owns in the aggregate approximately 3.4% of the outstanding shares of Blucora, Inc. (“Blucora” or the “Company”) (NASDAQ: BCOR), today issued an open letter to stockholders and announced that it has nominated four highly-qualified candidates for election to the Company’s Board of Directors (the “Board”) at Blucora’s 2021 Annual Meeting of Stockholders (the “Annual Meeting”): Frederick D. DiSanto, Cindy Schulze Flynn, Robert D. MacKinlay and Kimberly Smith Spacek.
Ancora Holdings nominates Blucora directors, pushes for tax arm sale
BLOOMBERG
Daniel Acker/Bloomberg
Activist investor Ancora Holdings Inc. has nominated four directors to Blucora Inc. s board and is calling for the company to explore strategic alternatives for its tax services business, including a sale. The stock rose as much as 10%.
The Cleveland-based asset manager, which owns a 3% stake in Blucora, argued in a letter to shareholders Thursday, Feb. 25, that there are few synergies between the TaxAct unit and its wealth management and registered advisory business, Avantax. Selling TaxAct could boost the company s share price by 40% to 75%, Ancora said in the letter, a copy of which was obtained by Bloomberg.
Reuters Reuters
23 February, 2021, 6:49 am
FILE PHOTO: The logo and trading informations for Kohl s is displayed on a screen on the floor at the New York Stock Exchange (NYSE) in New York, U.S., January 13, 2020. REUTERS/Brendan McDermid
(Reuters) – A group of activist investors with about 9.5% stake in Kohl’s Corp is attempting to take control of the department store chain’s board, The Wall Street Journal reported on Sunday.
Investors including Macellum Advisors GP LLC, Ancora Holdings Inc, Legion Partners Asset Management LLC, and 4010 Capital LLC had earlier this year nominated nine people to its now-12-person board, the newspaper said, citing people familiar with the matter.
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