Key Summary: On November 1, 2023, Politan Capital (7.61%) discussed business strategies and corporate governance with the company's management after signing an NDA. Politan submitted board nominations on October 30, 2023, including Quentin Koffey. On November 13, 2023, the company nominated Didier Hirsch and Martin Madaus for its Board at the 2024 AGM and announced a $500 million share repurchase plan for Fiscal 2024, leading Politan to withdraw its nominations and express support for the company's actions. On November 1, 2024, the Politan Parties (9.4%) entered into a Cooperation Agreement with the company.Market Cap: $2 billion | Azenta, Inc. provides life science sample exploration and management solutions for the life sciences market in North America, Europe, China, the Asia Pacific, and internationally.
On November 1, 2023, Politan Capital (7.61%), after having entered into a non-disclosure agreement with the company, was engaged in discussions with the management and board regarding various aspects of the company, including its business, strategies, and corporate governance. In accordance with the November 2, 2023 nomination deadline specified in the company's Amended and Restated Bylaws, Politan Capital submitted a formal notice on October 30, 2023, to nominate candidates for the Board. One of the nominees was Quentin Koffey, Politan's Managing Partner and Chief Investment Officer. Source
On November 13, 2023, the company made strategic changes by nominating Didier Hirsch and Martin Madaus for its Board at the 2024 AGM. The company announced its plans to repurchase $500 million in shares in Fiscal 2024. Politan Capital Management withdrew its board nomination, expressing support for company's actions and performance. Source
On November 1, 2024, the Politan Parties (9.4%) entered into a Cooperation Agreement with the company, which includes several key provisions: increasing the Board size by three directors, appointing Quentin Koffey to the Board with a term expiring at the 2025 Annual Meeting, establishing a new Value Creation Committee with Koffey as a member, and appointing William Cornog as Chair. The agreement also involves nominating the Value Creation Committee members for election at the 2025 Annual Meeting and ensuring two current directors do not stand for re-election.
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