Activist Investor Stilwell Seeks Two Board Seats in Proxy Fight With Alcentra Capital
Alcentra Capital (ABDC) shareholder Stilwell Group has nominated two directors to the board as the activist investor is seeking support from shareholders to sell or liquidate the investment company.
"We believe the company should be sold to the highest bidder or liquidated," Stilwell's Megan Parisi said in a letter to shareholders. The group, controlled by investor Joseph Stilwell, is the largest shareholder of Alcentra, which provides senior secured debt capital.
Earlier this month, Alcentra said it has started a formal review process to evaluate strategic alternatives for the company to increase value for shareholders.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.