Olshan’s Activist Practice Negotiates Board Seats for Starboard at Wausau Paper
The Wall Street Journal, Milwaukee Journal Sentinel, and other media reported on the successful negotiation of a settlement by Olshan’s client Starboard Value LP with paper products company Wausau Paper. Under the settlement, MIPS agreed to nominate two of Starboard’s director candidates at its 2012 Annual Meeting and to form a newly created committee to advise the board on company operations and other areas. Starboard is one of Wausau Paper’s largest shareholders with a 9.7% stake.
Steve Wolosky, Andrew M. Freedman and Meagan M. Reda represented Starboard in connection with its investment and the settlement negotiation.