Reuters – Lear Settles With Activist Investors
Auto parts maker Lear Corp. avoided a proxy battle with investors Marcato Capital Management LLC and Oskie Capital Management LLC by agreeing to increase and quicken the pace of its share buyback program and add a board member, Reuters reported. Marcato - a $1.4 billion hedge fund run by Mick McGuire, one of activist investor William Ackman's former partners - put pressure on Lear in February, saying it planned to nominate candidates to the company's board.
2 April 2013•3 mins read
