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News Breaks
July 23, 2014
11:32 EDTEMLEastern Company reports Q2 EPS 27c vs. 35c last year
Reports Q2 revenue $34.78M vs. $39.25M last year.
News For EML From The Last 14 Days
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January 16, 2015
16:58 EDTEMLMinerva Advisors reports 6.0% stake in Eastern Company, urges strategic review
Subsequent to the acquisition of these shares, Minerva has become aware of a reluctance on the part of Eastern Company (EML) to engage in constructive conversations with potential business partners relating to strategic alternatives open to the company. The compmany's dismissive response to the recent 8-K filed by Synalloy (SYNL) is the latest example of such reluctance. Given the company’s lack of meaningful growth and lack of any clear management succession plan, Minerva believes it is time to engage in an energetic review of strategic alternatives including hiring an investment banking firm to consider the sale of the issuer or substantial changes to the company's capital structure. Minerva and their representatives may engage in discussions with members of management and the board of directors of the company, other current or prospective shareholders, industry analysts, existing or potential strategic partners or competitors, investment and financing professionals, sources of credit and other third parties regarding a variety of matters relating to the company, which may include, among other things, the company’s business, management, capital structure and allocation, corporate governance, Board composition and strategic alternatives and direction, and may take other steps seeking to bring about changes to increase shareholder value as well as pursue other plans or proposals

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