Activist Fund Threatens Proxy Fight at Mentor Graphics

DealBook – An activist hedge fund on Monday threatened to mount a proxy fight at Mentor Graphics to protest what the firm said were moves meant to forestall talks with unhappy shareholders.

Casablanca Capital, a hedge fund founded by former Lazard banker Donald G. Drapkin, wrote in a letter to Mentor’s board that it intends to run an alternate slate of directors after the company pushed up its shareholder meeting date for this year. Casablanca owns a roughly 5.5 percent stake in the company.

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