Barnes Group Inc (B) has provided an announcement.
Barnes Group Inc. has struck a significant Cooperation Agreement with Irenic Capital Management LP, appointing Irenic’s Chief Investment Officer Adam J. Katz to its board of directors and planning to nominate him for election at the next annual stockholders meeting. The board will also seek to add a mutually agreed upon independent director. This collaboration, which includes various commitments and the withdrawal of Irenic’s nominees for the upcoming election, is contingent upon Irenic maintaining a minimum ownership threshold in Barnes. Additionally, the company has engaged former CEO Larry Lawson as a special advisor, further strengthening its strategic advisory capabilities.
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