Bloomin' Brands, Starboard Enter Into Cooperation Agreement; Adds Dave George And Jon Sagal To Board
Portfolio Pulse from Benzinga Newsdesk
Bloomin' Brands has entered into a cooperation agreement with Starboard, which owns about 9.7% of the company's stock. As part of the agreement, Dave George and Jon Sagal have been added to the board. Starboard has agreed to standstill, voting, and other customary provisions.
January 02, 2024 | 9:14 pm
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Bloomin' Brands has reached a cooperation agreement with Starboard, leading to the addition of Dave George and Jon Sagal to its board. This reflects the company's commitment to shareholder engagement.
The cooperation agreement with Starboard, a significant shareholder, and the addition of new board members are likely to be viewed positively by investors. This could signal a more collaborative approach to governance and potentially lead to positive changes in the company's strategy and operations, which may have a favorable impact on the stock price in the short term.
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RELEVANCE 90