Spark Networks, owner of JDate, Christian Mingle, as well as other dating web sites, is dealing with a tough activist campaign because of the hedge fund Osmium Partners, that is seeking to unseat the board and force a purchase associated with distressed company.
Then Spark Networks, owner of JDate, Christian Mingle, and a handful of other niche dating sites, is about to get its heart broken if love is a battlefield.
Osmium Partners is virtually specific to win the four board seats it is gunning for when Spark holds its yearly shareholder meeting week that is next sources acquainted with the problem stated, allowing the activist hedge investment to assume control and force a purchase associated with the business. Initially planned for June 17, Spark has recently delayed the yearly conference until June 28, a move these sources stated is geared towards purchasing Spark more hours to rally investors to vote down Osmium’s proposal or preempt a forced sale by securing unique Dabble buyout offer.
A agent for Spark, which trades underneath the “LOV” stock ticker, declined to comment beyond citing the business’s general public filings.
Osmium, which has 15percent of Spark, launched its proxy battle in December 2013, citing just exactly exactly what it claims are Spark’s poor business governance, payment issues, and stock price that is declining. Read more