Chemed spars with hedge fund over board nominees
Thursday, May 14, 2009 : PermalinkReuters – 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.
Tags: care provider, chemed corp, hedge fund, hospice care, investments, mmi, plumbing services, proposal, proxy-cards, reuters, roto rooter, s board, shareholders, vitas
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