Well the shareholders have spoken-they have approved the board candidates fielded by Steel Partners, which in effect cancels the TOB from Unison Capital. Since we know that Steel and another US mutual fund have 38% + of the shares, plenty of other shareholders were clearly underwhelmed by the weak tender offer from Unison.
Shareholder activism at its best?
We'll see how the new Steel appointed board helps reinvigorate the company and share price-only time can tell.
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