Deals
Major Shareholder in Kinaxis Rejects Call for Software Company’s Sale
- Jarislowsky says attempt to pressure board is ‘opportunistic’
- Daventry says stock is undervalued due to poor execution
Kinaxis provides supply chain management software for multinational corporations.
Photographer: Eric Thayer/BloombergThis article is for subscribers only.
One of the largest shareholders of software provider Kinaxis Inc. said it would be a mistake to sell the company now — rejecting an effort by a New York-based investment firm to pressure the board into seeking a buyer.
Jarislowsky Fraser Ltd., owner of 11% of Kinaxis shares, said investors should hang on and wait for the company’s profits to improve under a new chief executive officer. Current CEO John Sicard plans to retire at the end of the year.