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Furniture Brands disappointed with holder's move
NEW YORK |
NEW YORK (Reuters) - Furniture Brands International Inc (FBN.N) acknowledged on Monday that it got a letter from a major shareholder, Sun Capital Securities LLC, demanding its stockholder list, but said it was disappointed with the move.
"We are disappointed Sun Capital is considering pursuit of a costly and disruptive proxy contest," Furniture Brands said in a statement. "A proxy contest can only serve as a distraction to the company when attention and resources would be better used in creating value for stockholders by implementing our strategic plan."
(Reporting by Aarthi Sivaraman, editing by Gerald E. McCormick)
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