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Jarden Corporation latest news:
The man who sold his company to Newell is now waging a battle against the Newell board
The chairman of Jarden Corp sold his business to Newell a little over a year ago.
Starboard, ex-Jarden executives to attempt replacing Newell's board - WSJ
Three former executives of Jarden Corp, which was bought by U.S. consumer goods company Newell Brands Inc (NWL) in 2016, will team up with activist hedge fund Starboard Value LP to replace Newell's board and Chief Executive Michael Polk, the Wall Street Journal reported on Thursday.
Newell Brands jumps 5% after report of potential Starboard proxy fight
Newell Brands Inc. stock increased by more than 5% in late trading Thursday after a report that activist investor Starboard Value LP will launch a proxy fight that seeks to replace the entire board. According to The Wall Street Journal, Starboard is working with three former executives from Jarden Corp., which Newell acquired in a multibillion-dollar 2016 deal, to oust Chief Executive Michael Polk and the rest of the board and take control of the company. Jarden's former chairman, Martin Franklin, and CEO, Jim Lillie, are among the group working with Starboard, the Journal reported, based on anonymous sources. Franklin resigned his seat on the board last month after failing to wrest control, the Journal previously reported. After closing at $27.91, Newell shares topped $29 in late trading Thursday after the report was released.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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