Activist Client Engaged Capital Makes Headlines after Disclosing 5.2% Stake in Silicon Image and Hinting a Proxy Contest
Bloomberg, The Deal (subscription required), Market Watch Dow Jones, Seeking Alpha, Insider Monkey and other national media reported on Engaged Capital’s announcement that it has acquired a 5.2% investment stake in Silicon Image and has sent a letter to its Board of Directors. Engaged Capital noted that Silicon Image currently trades at a “48% - 116% discount to sum-of-the-parts valuation” and urged the company to increase its share buyback program and consider partnerships or a division sale. Steve Wolosky and Ryan Nebel represent Engaged Capital in connection with its activist investment at Silicon Image.
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