Shareholder Activist Ramius Capital finalizes agreement with Aviat, pressures SeaChange
|September 22nd, 2010||
|Contributed by: Hedge Fund Solutions LLC|
|Last week activist orientated hedge fund manager Ramius Capital Group entered into a settlement with Aviat Networks Inc. (NYSE: AVNW) regarding the company’s board. According to Hedge Fund Solutions’ Catalyst Research Report, Ramius Group currently holds 4,528,806 shares, or 7.6% of shares outstanding, in Aviat, and the agreement stipulates that the company will include one candidate recommended by Ramius as a nominee for the next election to its eight-person board. Earlier this year, Ramius told Aviat that the company’s shares were deeply undervalued and expressed a desire to improve Aviat’s operating performance.|
Ramius Capital Group is an activist fund manager that was founded by Peter Cohen in 1994 and acquired boutique investment bank Cowen Group in 2009.
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