Lear settles with activist investors, expands board

Reuters · 4/1/2013

In 2013, Marcato reached a settlement with Lear Corporation, the auto parts maker, after building a 5.9% stake and moving to nominate directors. Rather than pursuing a proxy fight, the firm negotiated an expanded board and an accelerated $800 million buyback, followed by a new $750 million program — an outcome that avoided the cost and disruption a contested campaign would have brought both sides.

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