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Chemed spars with hedge fund over board nominees

Reuters – Hospice-care provider Chemed Corp, which also offers plumbing services under the Roto-Rooter brand, is urging shareholders to reject a hedge fund’s proposal to nominate five dissident directors to Chemed’s board.

Chemed has asked shareholders to discard proxy cards sent by MMI Investments LP, a New York hedge fund, and instead vote for the board’s nominees.

"MMI has one, and only one, idea for your company: to separate immediately Chemed’s businesses – VITAS and Roto-Rooter," Chemed said in a letter on Wednesday.

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