Irenic Capital Management built a sizable stake in Workiva (WK), arguing the financial reporting software maker needs to improve its operating efficiency, refresh its board and consider a potential sale, Reuters’ Svea Herbst-Bayliss reports. Irenic owns roughly 2% of Workiva and has met with management numerous times to discuss possible changes to help the $4.7B company perform better, according to documents seen by Reuters and two people familiar with the matter.
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