Grifols (GRFS) shareholder Mason Capital Management's co-founder Kenneth M. Garschina is seeking Grifols board revamp and a seat at the table, replacing Tomas Daga, Garschina told Bloomberg in an interview.
Daga has the "de facto control" of the board and runs everything from capital allocation decisions, director appointments and financing strategies, which have been detrimental to shareholder value, Garschina reportedly said.
Daga has been consistently re-elected with strong shareholder support, exceeding 90% approval in the past two elections, a Grifols' spokesperson told Bloomberg.
Grifols did not immediately respond to MT Newswires' request for comment.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
Price: 7.08, Change: +0.09, Percent Change: +1.29
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.