Kinaxis Deflects Activists’ Pressure Seeking Potential Sale
- Irenic says company ignored interest from potential acquirers
- Kinaxis hired Goldman Sachs for financial advice on plan
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Canadian software provider Kinaxis Inc. pushed back against activist investors urging the company to seek a sale, saying it’s focused on creating shareholder value.
Daventry Group LP, which owns a 1.3% stake in the company, released a letter last week asking Kinaxis’s board to begin exploring a sale. Another investor, Irenic Capital Management LP, made a similar plea in a statement Tuesday.