January 8, 2018 / 11:13 AM / a year ago

BRIEF-Starboard Delivers Letter To Mellanox CEO And Board Of Directors

Jan 8 (Reuters) - Mellanox Technologies Ltd:

* STARBOARD DELIVERS LETTER TO MELLANOX CEO AND BOARD OF DIRECTORS

* STARBOARD VALUE LP SAYS HAS OWNERSHIP INTEREST OF APPROXIMATELY 10.7% OF MELLANOX’S OUTSTANDING SHARES​

* STARBOARD VALUE SAYS RECENTLY ANNOUNCED 2018 TARGETS OF MELLANOX ARE “INSUFFICIENT AND TOO HEAVILY RELIANT ON REVENUE GROWTH”

* STARBOARD VALUE SAYS APPRECIATIVE OF CONSTRUCTIVE DIALOGUE WITH MELLANOX TO DATE BUT “EXPECTS SUBSTANTIAL CHANGE IS NEEDED TO DRIVE IMPROVED RESULTS” Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below