Schulman Loses Proxy Fight with Ramius Capital

A. Schulman says that Ramius Capital’s two nominees have been elected to Schulman’s board of directors, following a bitter proxy battle between Schulman and shareholder group Ramius (CW, Jan. 7/14, p. 11). Two of Schulman’s nominees were also elected to the board. Meanwhile, a proposal to adopt a resolution to set up a special committee consisting solely of independent directors to review strategic alternatives, including a possible sale of the company, has been defeated. Schulman agreed last month to form a committee to decide on the...

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