Another Investor Calls For Brink's Spinoff
HOUSTON - Steel Partners II LP's Warren Lichtenstein delivered a letter to Brink's board urging it to complete a tax-free spin off one of its two business segments, according to a Wednesday government filing.
Lichtenstein's endeavor follows up on a proxy contest launched by activist Clay Lifflander to put four candidates on the Richmond, Va.-based company's board in November. Lifflander, portfolio manager of MMI Investments LP of New York, reported owning an 8.4% stake while Steel Partners reported Dec. 12 that it owned a 6.2% of Brink's.
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