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Financials

Starboard set to win eight board seats at GCP Applied Technologies-sources

May 27 (Reuters) - Hedge fund Starboard Value LP is close to getting all of its eight nominees elected as board directors at GCP Applied Technologies Inc’s annual shareholder meeting, people familiar with the matter said on Wednesday.

While not all votes have been cast ahead of Thursday’s meeting and the result could change, preliminary figures indicate that Starboard is on track to have its entire board slate elected by GCP shareholders, the sources said.

The sources asked not to be identified ahead of an official announcement. GCP and Starboard did not immediately respond to requests for comment. (Reporting by Seva Herbst in Boston)

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