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LSB Industries +3.5% after boardroom shakeup

Apr. 04, 2014 12:51 PM ETLSB Industries, Inc. (LXU) StockBy: Carl Surran, SA News Editor
  • LSB Industries (NYSE:LXU +3.5%) and Starboard Value reach an agreement that will add two Starboard nominees to the company's board and form a committee to provide recommendations related to strategic matters; the board size remains at 10.
  • Starboard agrees not to solicit proxies or participate in any withhold campaign in connection with the 2014 annual meeting and to vote in support of all LSB's director nominees.
  • Starboard owns ~4.9% of LSB's outstanding shares.

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