2023-06-26 15:12:21 ET
Masimo ( NASDAQ: MASI ) quickly rose 1% amid a report that shareholders are expected to elect directors proposed by activist holder Politan Capital Management.
Politan Chief Investment Officer Quentin Koffey and health-care executive Michelle Brennan are expected to be elected to the board in a vote late on Monday, according to a Reuters repor t, which cited people familiar with the matter. Enough votes have been cast to assure that two directors will be added to the a board.
Earlier this month, proxy firm ISS recommended that shareholders vote for the two nominees backed by Politan Capital.
Politan Capital, which has a 9% stake in Masimo, announced its intention to nominate the candidates early last month.
Politan Capital reportedl y first took a stake in Masimo in August.
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Masimo gains amid report that dissident directors will be elected to board