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Article: Long-Time Shareholder Jon Ledecky Files Proxy Proposals and Challenges Yucaipa's Ron Burkle to "Do What's Right for All Shareholders" at Source Interlink.
- Article from:
- Business Wire
- Article date:
- December 11, 2006
CopyrightCOPYRIGHT 2006 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Ledecky Calls for the Reversal of Recent Takeover of 75% of Board Seats by Minority Owner Burkle Without Paying Takeover Premium
Ledecky Also Calls for $5 Per Share Special Cash Dividend to Reverse 30% Decline in Source Stock During Burkle Regime
NEW YORK -- Long-time shareholder Jon Ledecky, the owner of 1,631,000 shares, or 3.1% of the total outstanding shares of Source Interlink Companies, Inc. (Nasdaq: SORC), today issued a public statement and challenge to Yucaipa Companies Managing Partner and majority owner Ronald W. Burkle, who holds voting and investment authority over YucaipaeIUs 34% ownership stake in Source Interlink. Mr. Ledecky called on ...