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Progress Software (PRGS) discloses activist fund and AOL archenemy Starboard Value is...
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Monday, May 7, 2012, 11:59 AM ETProgress Software (PRGS) discloses activist fund and AOL archenemy Starboard Value is withdrawing its board nominees for Progress' May 31 shareholder meeting, thanks to its satisfaction with the company's recently-announced strategic plan. The plan includes the divestment of ten product lines, a $350M+ share repurchase program, and restructuring efforts that target $40M in annual cost savings.
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