Hasbro Sets June 8 as Date for Proxy Standoff With Alta Fox
(Bloomberg) -- Hasbro Inc., the largest U.S. toymaker, set June 8 as the date for shareholders to weigh in on a proxy battle with activist investor Alta Fox Capital Management.
Hasbro announced the date of the meeting on Monday in a statement urging shareholders to vote against Alta Fox's five director nominees. The company said Alta Fox doesn't understand its business, especially the Wizards of the Coast unit, which the fund has proposed spinning off.
“We believe this proxy fight is ill-timed, Alta Fox's agenda will not create value for shareholders and its nominees offer no beneficial experience to Hasbro's board or the company,” Hasbro said in a letter to shareholders.
Read more: Hasbro added two digital-gaming veterans to board
©2022 Bloomberg L.P.
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