Spark Networks, owner of JDate, Christian Mingle, as well as other dating sites, is dealing with a intense activist campaign because of the hedge investment Osmium Partners, that will be seeking to unseat the board and force a purchase associated with the difficult business.
If love is really a battlefield, then Spark Networks, owner of JDate, Christian Mingle, and a few other niche internet dating sites, is approximately to obtain its singleparentsmeet heart broken.
Osmium Partners is practically particular to win the four board seats it is gunning for when Spark holds its yearly shareholder conference in a few days, sources knowledgeable about the specific situation stated, allowing the activist hedge fund to take solid control and force a sale of this 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 additional time to rally investors to vote down Osmium’s proposal or preempt a forced sale by securing its very own buyout offer.
A agent for Spark, which trades beneath the «LOV» stock ticker, declined to comment beyond citing the business’s general general public filings.
Osmium, which has 15percent of Spark, established its proxy battle in December 2013, citing exactly just exactly what it claims are Spark’s bad corporate governance, payment issues, and stock price that is declining. The hedge investment also alleges that Spark has mismanaged JDate, its «crown jewel,» and that its Christian companies have actually been underperforming relative to their internet dating peers.Detalles