On January 22, 2025, Matthews International Corporation sent a letter to its shareholders, urging them to vote 'FOR' the company’s director nominees – Terry L. Dunlap, Alvaro Garcia-Tunon, and J. Michael Nauman – on the WHITE proxy card. The letter emphasized the Board and management's commitment to long-term value creation.
Matthews highlighted the recently announced sale of SGK Brand Solutions as a transformative transaction demonstrating the Board's prudent stewardship. The company stated that discussions for the SGK sale began in 2019, well before Barington Capital became a shareholder, countering the activist's claims.
The company expressed concerns that Barington's nominees would pursue a short-sighted approach that could undercut the value of Matthews' other valuable business units. Matthews stressed the importance of electing directors with relevant industry experience focused on long-term value creation.
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