Posted by Jack Davis on September 24th, 2008 at 4:56 pm | Categorized as Acquisitions, Intel, Private equity, Transmeta | Tagged as Intel, Mergers and Acquisitions, Proxy battle, Transmeta
Transmeta, the Santa Clara developer of semiconductor technology, said Wednesday afternoon that it “will now explore a possible sale” of the company. The move no doubt pleased its newest board member and largest shareholder, Bryant Riley, who gave up his proxy battle with the company in return for a board seat for himself and two others he agreed on with the company. Riley, who owns 12.1 percent of Transmeta’s shares, also agreed to limit any future accumulation of them to no more than 13 percent. Read the rest of this entry »
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Posted by Jack Davis on July 16th, 2008 at 5:56 pm | Categorized as Governance, Transmeta, hedge funds, proxy fights | Tagged as Bryan Riley, Governance, hedge funds, Private equity, Proxy fight, Shareholder lawsuits, Transmeta
Bryant Riley, who filed a shareholder lawsuit against Transmeta in January and said in May he intended to mount a proxy fight at the company’s next annual meeting to have himself and a cohort nominated to its board, will now be nominated to the board by the company itself, according to an agreement announced Tuesday.
Transmeta also agreed to increase its board size from seven to nine directors, and to immediately name to it J. Michael Gullard, who serves on the board of directors at Alliance Semiconductor along with Riley and Melvin Keating, whom Riley had originally nominated along with himself to the Transmeta board.
Riley also agreed to acquire no more than Read the rest of this entry »
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