Activist Investor Starboard Boosts Stake in Brinks
05 Outubro 2015 - 11:00AM
Dow Jones News
Activist investor Starboard Value LP said Monday it has
increased its stake in Brink's Co. to 12.4% in a move to provoke
change at the security company.
As of July 28, Starboard was the company's biggest shareholder
with an 8.9% stake.
In a letter to Brink's board, Starboard said the company could
turnaround what it deemed perennially poor performance by exploring
"a strategic combination with another global cash logistics
company."
Starboard mentioned in the letter that several rivals, such as
Loomis AB, Dunbar Armored Inc., Prosegur Compania de Seguridad SA,
and G4S PLC have improved technology and logistics while reducing
costs, helping to improve their profitability and customer
service.
Starboard also said Brink's could improve results by installing
a "more incentive-based compensation structure for branch- and
field-level employees, and a focus on eliminating the costs that do
not drive value for customers, such as corporate aircraft and
multiple U.S. headquarters."
Starboard has a history of pressing companies to cut costs and
focus on operating efficiently.
Write to Ezequiel Minaya at ezequiel.minaya@wsj.com and Lisa
Beilfuss at lisa.beilfuss@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
October 05, 2015 09:45 ET (13:45 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
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