After the close Thursday, The Brink's Company (NYSE:BCO) and Pirate Capital LLC announced they have reached an agreement. As part of the agreement, Thomas R. Hudson Jr., managing member of Pirate Capital, will join the Brink's board of directors at its upcoming February meeting.
Hudson will serve on the board's strategy, pension and finance, and executive committees.
Pirate Capital owns approximately 8.5% of the outstanding common stock of Brink's.
Pirate Capital had been pushing for two seat on the board and requested that the company retain an investment bank to examine strategic alternatives.