Barnes & Noble Education has negotiated a “cooperation agreement” with shareholder Outerbridge Capital Management, which holds a 13.4 percent stake in the company and had been looking to place four directors on the company’s board. As part of the agreement, Lowell W. Robinson joins the board now as an independent director, and Zachary Levenick will be nominated for election to the board at the next annual meeting. Outerbridge has agreed to support all of the company’s nominees for the board at that election, and “has also agreed to abide by certain customary standstill provisions.” That standstill agreement includes keeping Outerbridge […]
