CoreLogic on Monday announced yet another attempt to appease activist shareholder Highfields Capital, only to have Highfields once again reject the steps. It’s unhappy major shareholder Highfields has argued for a board shakeup, but said Monday that adding two members to a seven member board are only “cosmetic changes.”
CoreLogic had decided last month after a strategic review not to sell itself, but launched cost-cutting moves and a restructuring as well as saying its results were improving as real-estate markets picked up.
CoreLogic, a data provider that specializes in real-estate, says it has postponed its annual meeting until the summer and hired executive-search firm Spencer Stuart to find it two new independent board members. It pushed out, for the third time, the deadline for when nominees for the board are required.
Source: Wall Street Journal
