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Hasbro Activist Alta Fox Seeks to Replace Toymaker’s Chairman

  • Investor looks to oust Stoddart and two other directors
  • Proposals go to shareholders at June 8 annual meeting

Alta Fox, the activist fund in the midst of a proxy battle with Hasbro Inc., is rallying other investors to vote against the re-election of the toy company’s chairman and two other board members at its annual meeting on June 8, according to a letter seen by Bloomberg.

The letter escalates an ongoing battle between the largest U.S. toymaker and one of its biggest shareholders, with a 2.5% stake, according to the fund. It’s unclear how much support Alta Fox has among other shareholders, but if any of its suggestions are implemented, the company could undergo a major change.