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Unisys: Is A Proxy Fight Brewing?

Posted on May 20, 2008

Things are heating up in Blue Bell.June 2 is the deadline for nominations for the 4 open board seats at Unisys (UIS), the troubled computer hardware and consulting company created in 1986 from the merger of Burroughs and Sperry. Activist investor Millbrook Capital, which has a 9.9% stake in the company, has been leaning on the Unisys board to take action to enhance shareholder value; the company responded earlier this year by postponing its annual meeting and hiring Bear Stearns as a financial adviser. Millbrook previously proposed that the company sell or spin off its government services busi...

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