15 Recent Activist Investor Campaigns

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10. Matthews International Corporation (NASDAQ:MATW)

Value of Stake: N/A

Barington Capital Group Activist Campaign Initiated: December 2024

Number of Hedge Fund Holders: N/A

Matthews International Corporation (NASDAQ:MATW) is a global provider of industrial technologies, memorialization products, and brand solutions. It provides bronze and granite memorials, upright granite memorials and monuments, and concrete burial vaults. After losing more than 30% in market value last year, activist investor Barington Capital Group waged a campaign to oust the company’s chief Executive Officer.

Barrington Capital Group insists on an overhaul of the board of directors as part of its proxy fight with the company. According to the activist hedge fund, Matthews International Corporation (NASDAQ:MATW) balance sheet deteriorated significantly during CEO Joseph Bartolacci’s 18-year tenure.

“We do not believe that he is the right leader to unlock Matthews’ significant value potential,” said Barrington CEO James Mitarotonda.

In addition, Barrington Capital Group insists that Matthews International Corporation (NASDAQ:MATW) should focus on its most valuable business, which includes producing products for cemeteries, funeral homes, and crematories to unlock value. The activist hedge fund also urges the company to explore sell options for underperforming segments such as the packaging brand business.

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