Deals
Outerwall Adds Three Directors to Settle With Engaged Capital
- Investor nominee joins board, two more to be named later
- Redbox owner to hire separate law firm to advise board
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Outerwall Inc. agreed to add three directors to its board as part of a settlement with Glenn Welling’s Engaged Capital, averting a potential proxy fight.
The agreement puts Engaged nominee Jeffrey Brown on the board immediately, according to a Tuesday statement from the company, which owns Redbox DVD rentals and Coinstar cash-exchange kiosks. Two other directors will be added to the board later, and its size will increase to nine directors.