Siri software maker Nuance adds Icahn nominees to board
Oct 8 (Reuters) - Speech recognition software maker Nuance Communications Inc said it appointed two Carl Icahn nominees to its board, more than a month after the activist investor said he may explore such a possibility.
Nuance's shares rose more than 2 percent in premarket trading after the company said the addition of Brett Icahn, Icahn's son, and David Schechter brings the number of its directors to 11.
"I'm optimistic their impact at NUAN will be similar to HAIN (Hain Celestial Group Inc ), where stock went from $20.20 to $79.56 over the three years they sat on the board," Icahn said in a tweet.
Icahn Group and affiliates own about 16.7 percent of Nuance's shares. Icahn revealed in April a 9.27 percent stake in Nuance, whose technology is used in Apple Inc's iPhones as part of its "Siri" voice feature.
Following Icahn's announcement of a 16.03 percent stake in August, Nuance had adopted a stockholder rights plan to reduce the chances of any investor gaining control.
Icahn has agreed to customary standstill provisions, the company said on Tuesday.
Nuance's shares closed at $18.49 on the Nasdaq on Monday.
- Housing, jobs data weaken, but overall economic picture still upbeat
- Target cyber breach hits 40 million payment cards at holiday peak |
- 'Duck Dynasty' anti-gay fallout sparks debate on religion, tolerance
- UPDATE 3-Saab wins Brazil jet deal after NSA spying sours Boeing bid
- Zuckerberg to sell Facebook shares worth about $2.3 billion |