Steel Partners and Handy & Harman: Investment and Settlement Agreements with ModusLink

Steel Partners Holdings L.P. and Handy & Harman Ltd.

Represented Steel Partners Holdings L.P. and Handy & Harman Ltd. in negotiating investment and settlement agreements with ModusLink Global Solutions, Inc. (NASDAQ: MLNK) in advance of ModusLink’s annual meeting of stockholders. Pursuant to the agreements, Steel Partners Holdings L.P. agreed to purchase 7.5 million newly-issued shares of ModusLink’s common stock, plus warrants to purchase 2.0 million shares of common stock, for a total investment of $30 million, and ModusLink agreed to nominate and solicit proxies solely for Handy & Harman representatives Warren G. Lichtenstein and Glen M. Kassan for election as directors at ModusLink’s annual meeting. Three different stockholder groups (including Handy & Harman) had submitted director nominations and filed preliminary proxy materials in connection with the annual meeting. Yahoo Finance, BusinessWire and other media reported on this matter.

Jump to Page

Necessary Cookies

Necessary cookies enable core functionality such as security, network management, and accessibility. You may disable these by changing your browser settings, but this may affect how the website functions.

Analytical Cookies

Analytical cookies help us improve our website by collecting and reporting information on its usage. We access and process information from these cookies at an aggregate level.