After Starboard Value’s Jeff Smith reported owning an 8.2% stake in Brink’s (BCO) last week, The Deal senior editor Ron Orol details why a proxy fight with the company could be on the horizon. Orol explains that not only does Starboard Value, which has launched 29 proxy fights in the past five years, own a stake in Brink’s, but so does Mario Gabelli’s GAMCO. GAMCO, which has launched 14 proxy fights in the same time frame, reported owning an 8.14% stake in Brink’s in December. Now, Orol says a proxy fight with Brink’s could be a serious possibility if the company doesn’t improve its share price. He reveals when activists might take action and how governance at Brink’s might factor into how the situation plays out.
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