January 30, 2018 / 2:20 PM / 6 months ago

BRIEF-Owl Creek Recommends That Brunswick Spin-Off Of Fitness Equipment Business

Jan 30 (Reuters) - Brunswick Corp:

* OWL CREEK ISSUES LETTER TO BRUNSWICK CORPORATION BOARD OF DIRECTORS​

* OWL CREEK- BELIEVES BRUNSWICK STAKEHOLDERS WILL BENEFIT FROM SPIN-OFF OF FITNESS EQUIPMENT BUSINESS FROM MARINE ENGINE & BOAT MANUFACTURING BUSINESSES​

* ‍OWL CREEK SAYS INVESTMENT FUNDS ADVISED BY OWL CREEK ASSET MANAGEMENT BENEFICIALLY OWN ABOUT 2.8% OF ARE BRUNSWICK CORP’S OUTSTANDING COMMON EQUITY​

* ‍OWL CREEK ON BRUNSWICK CORP SAYS BELIEVES THAT A SEPARATELY TRADED FITNESS BUSINESS WOULD “COMMAND A PUBLIC MARKET PREMIUM”​

* OWL CREEK SAYS ENCOURAGED BY DIALOGUE WITH BRUNSWICK TO DATE, HAVE DECIDED THERE IS NO NEED FOR A PROXY CONTEST

* ‍OWL CREEK SAYS “URGES BRUNSWICK TO DE-STAGGER BOARD” RESULTING IN ANNUAL ELECTIONS FOR ALL DIRECTORS​

* OWL CREEK - ‍BELIEVE BRUNSWICK COULD BENEFIT FROM NEW BOARD MEMBERS​

* ‍OWL CREEK SAYS HAS CHOSEN NOT TO NOMINATE BOARD MEMBERS FOR 2018 ANNUAL MEETING OF BRUNSWICK​ Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below