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Monday, May 7
2012, 11:59 AM
Progress Software (PRGS) discloses activist fund and AOL archenemy Starboard Value is...
Progress 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.