Activist Client Engaged Capital Makes Headlines after Disclosing 5.2% Stake in Silicon Image and Hinting a Proxy Contest
December 22, 2014
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.