Gordon Haskett’s head of event-driven research, Don Bilson, notes that Logitech (LOGI) has been without a CEO since Bracken Darrell left the company to become CEO at VF Corporation (VFC) in June and that the company’s founder, Daniel Borel, voted his 1.5% stake against the company’s chairman Wendy Becker at this week’s annual general meeting. The situation at Logitech “looks to be another case where a founder isn’t too pleased with what has become of their baby” and “the same could be said for Jonathan Milner,” the founder of Abcam (ABCM), who yesterday confirmed that he plans to vote against the company’s sale to Danaher (DHR), the firm tells investors. “What would make this even more ABCM-like is if the aggrieved Borel pushes for the company to be sold and our UBS-Barclays buyer echoes the sentiment,” added the firm, which points out that Barclays and UBS Securities – “two prime brokers sitting atop of the list of recent buyers at an Elliott name” – were buyers of Logitech shares during Q2.
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