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News Breaks | | | | February 8, 2013 | | 06:21 EDT |  | LEA | Marcato reports 5.2% stake in Lear, spoke to management
company's senior management Lear's capital allocation practices and actions, including share repurchases, that Marcato believes would create enhanced value for stockholders. Marcato indicated to senior management its intention to nominate candidates for the annual meeting to be held in 2013. After Lear announced that it was accelerating its previously authorized share repurchases and increasing its dividend, Marcato Capital said that it indicated to senior management it still intends to engage in discussions regarding the nomination of directors and modifications to the company's capital allocation practices. Marcato intends to meet with management, the board, and other stockholders to formulate plans or proposals regarding the company or its securities. On February 7, Oskie on behalf of the Oskie Reporting Persons and Marcato on behalf of the Marcato Reporting Persons entered into an agreement thereby forming a group. | |
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