Saturday, August 31, 2013

Microsoft Signs Pact to Cooperate With Activist ValueAct $MSFT

Microsoft Signs Pact to Cooperate With Activist ValueAct $MSFT

Microsoft Corp. (MSFT) signed a pact to cooperate with ValueAct Holdings LP, an agreement that could bring an activist shareholder onto the board of the world’s largest software maker as it undergoes a leadership change.
Microsoft said yesterday that it will hold regular meetings with ValueAct Capital President Mason Morfit and “selected Microsoft directors and management to discuss a range of significant business issues.” The Redmond, Washington-based company said ValueAct has the option of having Morfit become a director beginning at the first quarterly board meeting of 2014.

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