Oct 8 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.