Spark Networks, owner of JDate, Christian Mingle, as well as other dating internet sites, is dealing with an intense activist campaign by the hedge investment Osmium Partners, which can be seeking to unseat the board and force a purchase of this company that is troubled.
Then Spark Networks, owner of JDate, Christian Mingle, and a handful of other niche dating sites, is about to get its heart broken if love is a battlefield.
Osmium Partners is nearly specific to win the four board seats it is gunning for when Spark holds its yearly shareholder conference week that is next sources acquainted with the problem stated, allowing the activist hedge investment to take close control and force a purchase regarding the business. Initially planned for June 17, Spark has recently delayed the meeting that is annual June 28, a move these sources stated is targeted at purchasing Spark more hours to rally investors to vote down Osmium’s proposal or preempt a forced sale by securing a unique buyout offer.
A agent for Spark, which trades underneath the “LOV” stock ticker, declined to comment beyond citing the business’s general general public filings.
Osmium, which has 15percent of Spark, launched its proxy battle in December 2013, citing exactly exactly just what it claims are Spark’s poor business governance, payment issues, and stock price that is declining. Read more