Carl Icahn, Nuance Communications: Voice solutions software company Nuance Communications Inc. (NASDAQ:NUAN) has been on our radar due to Carl Icahn‘s activist stake in the company. In a recent filing with the SEC, Icahn Capital disclosed it was entering into a Nomination and Standstill Agreement, and a Confidentiality Agreement with Nuance. One of the purposes of this filing was to appoint Carl Ichan’s son Brett, and David Schechter as independent directors.
“Nuance is reinventing the relationship between people and technology, and as its largest shareholder we see numerous, promising growth opportunities for the Company. We are confident that Nuance has the right strategy in place, and we will work with the Board and management team to continue enhancing stockholder value.”
A quote from the press release of Nuance and Icahn Group is above. Earlier this year, Carl Icahn disclosed he was increasing his Nuance Communications stake to 16.9%, which represents ownership of around 52.4 million shares, after initiating the position in the first quarter with a 3.8 million share buy.
“We are happy to have reached this agreement with Nuance. Brett and David have served successfully on many boards. I strongly believe in the potential of Nuance,” Carl Icahn said in the press release.
Icahn Group and the affiliates will support Nuance’s slate of director nominees, among which are Brett Icahn and Schechter at the Annual Meeting of Stockholders that will take place next year.
Through the links below you can access the Confidentiality Agreement and the Nomination and Standstill Agreement attached to Nuance Communications’ Form 8-K filed with the SEC earlier today.
Icahn – Nuance Cmmunication Nomination and Standstill Agreement
Icahn – Nuance Communication Confidentiality Agreement
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