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BRIEF-Stewart Information Services enters into an agreement with Starboard Value LP
October 18, 2016 / 11:30 AM / a year ago

BRIEF-Stewart Information Services enters into an agreement with Starboard Value LP

Oct 18 (Reuters) - Stewart Information Services Corp -

* Entered into an agreement with Starboard Value LP regarding composition of Stewart Board of Directors

* Stewart CEO Matthew Morris and new independent director, Clifford Press, will be appointed to board, effective immediately

* Morris and Press will replace Malcolm S. Morris, Stewart Morris, Jr., who have agreed to resign

* With addition of Mssrs. Morris, Press, 2 new independent board members, Stewart board will be comprised of nine directors

* Starboard has also agreed to certain customary standstill and voting provisions

* Has entered into a separate agreement with Foundation Asset Management, LP

* Pursuant to separate agreement, foundation agreed to abandon its consent solicitation seeking to call special meeting Source text for Eikon: Further company coverage:

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