REUTERS – Hedge fund Anson Funds is preparing a proxy fight at Match Group, aiming to nominate directors to its 10-member board as it pushes for cost cuts, governance changes, and a strategic review of MG Asia. Despite owning only 0.6% of Match, Anson has raised concerns over board connections, executive turnover, and the company's ties to former owner IAC/Interactive. Match's stock has dropped 67% in three years, making it a target for activist investors, including Elliott Investment Management and Starboard Value, who have also pressured the company for changes. Elliott secured two board seats after a $1 billion investment in early 2024. Anson, led by Sagar Gupta, argues that Match's response has been too slow, and with only three board seats up for election this year, investor frustration is growing, setting the stage for a heated boardroom battle.
by Svea Herbst-Bayliss
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