(Reuters) Starboard Value LP, which is looking to replace the entire board of Newell Brands Inc (NWL.N), said on Wednesday three of its nominees would buy about $25 million in Newell stock with their own money if the activist hedge fund gained full board control. Starboard has nominated a 12-member slate to Newell’s board and wants to oust the company’s CEO Michael Polk, arguing the maker of Rubbermaid, Crock-Pot slow cookers and Yankee Candles has underperformed peers and mismanaged its $15.4 billion acquisition of Jarden Corp in 2016.
Three Starboard Nominees to Newell Board Agree to Buy Stake if Elected
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