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Monday, February 14, 2011

Casablanca names three nominees to Mentor board

Hedge fund Casablanca Capital, which holds a 5.5 percent stake in Mentor Graphics Corp , said it plans to nominate three directors to Mentor's board, days after billionaire investor Carl Icahn said the company should be put up for sale. Last week, Icahn, who holds a 14.7 percent stake in the company, had announced plans to nominate at least three directors to the board as he prepared to mount a proxy battle for full control of the company's board. Casablanca and Icahn's moves come after the company had advanced the date of its annual shareholder meeting to May 12, six weeks earlier than it was held last year and leaving investor groups only until Monday to nominate an alternate slate.

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