Yesterday, Matthews (MATW) International sent a letter to its shareholders that it says emphasized “the company’s commitment to long-term value creation.” Highlights from the letter include: “Your Board has taken decisive actions to enhance long-term shareholder value – particularly the strategic sale of SGK Brand Solutions and the ongoing evaluation of strategic alternatives. Matthews’ stock price increased significantly on the day the transaction was announced, and the company’s equity sell side analysts commended management for the deal. Matthews’ nominees offer the diverse and relevant experience needed to maintain the current momentum. Barington’s nominees lack critical skills and were handpicked by a shareholder with a history of pushing for short-term gains,” the company said.
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Read More on MATW:
- Barington Capital urges Matthews shareholders to vote the Gold proxy card
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- Matthews to sell interest in SGK Brand Solutions to SGS-created entity
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- Barington Capital urges ‘new leadership’ at Matthews