Ferro board under fire

The decision by Ferro’s board of directors to reject A. Schulman’s recent takeover offer without negotiations and pursue its own restructuring plan is being blasted by an increasingly mutinous group of Ferro shareholders. The Shareholder Committee for the Future of Ferro—already frustrated by the company’s deteriorating margins and chronic underperformance—issued an open letter expressing disppointment with Ferro’s fourth-quarter and full-year financial results and the board’s failure to answer shareholder questions about...

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