Following a November 07 announcement in which Philips mentioned that they were reviewing their options for shelving in MedQuist, Philips CFO Pierre-Jean Sivignon said on January 21 that they were “hoping to finalize this in the near future.”
On the other hand, MedQuist’s activist shareholder Costa Brava Partnership III LP, which currently holds 1,938,821 shares (5.2% of the total outstanding), sent a letter to the MedQuist board expressing concern about whether the interests of minority stockholders were being fairly represented in the proposed sale of MedQuist. Costa Brava said they “will hold the MedQuist board of management liable if minority shareholders do not receive benefits equal to majority shareholder Royal Philips Electronics NV ahead of a possible sale of the entire company.” >More
…to be continued…
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