Ramius’ Activist Agenda at Orthofix Rejected

April 13th, 2009
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In a Special General Meeting on April 2nd, shareholders of Orthofix International N.V. (OFIX) voted on a number of proposals that had been presented by activist investor Ramius Capital. The independent inspector of elections announced late last week that investors had resoundingly rejected Ramius Capital’s proposals for changes at the company.

In December 2008, Ramius had demanded that the company sell its Blackstone Medical subsidiary, reduce corporate overhead and pay down debt.

Shareholders also voted against Ramius’ slate of four Board of Directors nominees and in favor of four incumbent members of Orthofix’s Board.
See Press Release
For Detailed Investor Profiles on these Investors, click below:
Ramius Capital Group
Related People: Jeffrey Smith; Jeffrey Solomon; Mark R. Mitchell; Morgan Stark; Peter Cohen; Thomas Strauss
Related Entities: Cowen Group Inc. (NASDAQ: COWN); Ramius Alternative Investments; Ramius Credit Fund; Ramius Enterprise LP; Ramius Intermediate Fund; Ramius Multi-Strategy Fund; Ramius Value and Opportunity Fund
Related Article Tags: Shareholder Activists, Corporate Raiders and Proxy Battles

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