Spark Networks, owner of JDate, Christian Mingle, as well as other dating sites, is dealing with a tough activist campaign because of the hedge investment Osmium Partners, which will be seeking to unseat the board and force a purchase associated with the company that is troubled.
If love is just a battlefield, then Spark Networks, owner of JDate, Christian Mingle, and a number of other niche online dating sites, is mostly about to have its heart broken.
Osmium Partners is practically particular to win the four board seats it is gunning for when Spark holds its yearly shareholder conference a few weeks, sources acquainted with the specific situation stated, allowing the activist hedge investment to assume control and force a purchase associated with business. Initially planned for June 17, Spark has recently delayed the meeting that is annual 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 unique buyout offer.
A agent for Spark, which trades underneath the “LOV” stock ticker, declined to comment beyond citing the business’s general public filings.
Osmium, which has 15percent of Spark, established its proxy battle in December 2013, citing exactly just just what it claims are Spark’s bad business governance, payment issues, and decreasing stock cost. The hedge fund additionally alleges that Spark has mismanaged JDate, its “crown jewel,” and therefore its Christian systems have actually been underperforming in accordance with their online dating sites peers.
The market and shareholders may actually have actually fallen out from love with “LOV. Continue reading “How The Master Of JDate And Christian Mingle Lost At Business Of Love”