Calls on Board to Establish Strategic Review Sub-Committee with New Independent Directors to Oversee Process
NEW YORK–(BUSINESS WIRE)–Irenic Capital Management, LP, one of the largest shareholders of Teleflex Incorporated (“Teleflex” or the “Company”) (NYSE: TFX) with 2% ownership, today issued the following statement regarding the Company’s recent announcement:
“We welcome Teleflex’s newfound openness to consider all strategic alternatives.
As a next step, we believe the Board of Directors should form a Strategic Review sub-committee with new independent directors, including a shareholder representative and excluding Dr. Klasko, to work with its advisors to both engage with inbound approaches and solicit outbound interest — and report back to shareholders.
While we strongly disagree with the Board’s description of our conversation with Dr. Klasko, we look forward to working with the Board to take appropriate next steps to maximize value at Teleflex.”
About Irenic
Irenic Capital Management, LP is an investment management firm founded by Adam Katz and Andy Dodge. Based in New York City, Irenic works collaboratively with publicly traded companies to ensure operating activities, capital deployment and management incentives are all aligned to create value for the company and its owners. For more information about Irenic, please visit www.irenicmgmt.com.
Contacts
For Investors:
Jeff Shookus
Irenic Capital Management
[email protected]
For Media:
Longacre Square Partners
[email protected]
