Two long-term Hasbro shareholders with significant stakes are urging Hasbro to accept changes to its board proposed by activist investor Alta Fox, with one saying it will vote for the Alta Fox slate of three directors, according to Reuters. Boston Partners, which owns 2.26% of Hasbro stock, urged Hasbro to settle its dispute with Alta Fox and said it will vote for the Alta Fox slate of directors, according to the report. Anchor Capital, which owns .36% of Hasbro, said the board should add shareholder-supported board members, but did not say how it would vote.
Earlier this month, Ancora Holdings, which owned about 1% of Hasbro at the time, said it would vote for the Alta Fox slate and urged Hasbro to sell Entertainment One, an acquisition that Alta Fox has also criticized, according to the Wall Street Journal.
The proxy fight over board seats began in February, with Alta Fox nominating five directors to the Hasbro board and urging a spin-off of Wizards of the Coast, which it said would be valued as much as all of Hasbro is now (see "Activist Hedge Fund Urging Hasbro to Spin Off WotC"). The slate of candidates was later cut to three, with Alta Fox also urging the removal of board Chairman Rich Stoddart, Head of Compensation Committee Lisa Gersh and longest-tenured director Edward Philip, according to a statement provided to ICv2.
Hasbro sent a letter to shareholders urging rejection of the Alta Fox slate earlier this month (see "Hasbro Responds to Alta Fox"), and again this week, criticizing the Alta Fox nominees as having inferior skillsets, according to SeekingAlpha.
The board vote will take place on June 8.

Hasbro's Still Not Having It
Posted by Milton Griepp on May 20, 2022 @ 3:08 am CT

MORE GAMES
Kaiju Board Game Based on Classic 'Battle Masters' by Milton Bradley
March 3, 2025
Restoration Games previewed Battle Monsters, a new Kaiju board game.
New Dice Game by Iello
March 3, 2025
Hachette Boardgames will release Mythical Dice, a new dice game by Iello, into retail.
MORE NEWS
Facsimile Edition Presents All 12 Issues with Ads, Letters, Cover Gallery
March 3, 2025
The oversized facsimile edition presents the complete 12-issue series as it originally appeared, with ads, letters pages, and a cover gallery.
New Dungeon Master's Tool
March 3, 2025
Loke Battle Mats will release Dungeon Designer's Deck, a new DM tool, into retail.