Spark Networks, owner of JDate, Christian Mingle, along with other dating web sites, is dealing with an intense activist campaign because of the hedge investment Osmium Partners, which can be trying to unseat the board and force a purchase of this difficult business.
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 meeting week that is next sources acquainted with the specific situation stated, allowing the activist hedge investment to take solid control and force a purchase associated with business. Initially planned for June 17, Spark has recently delayed the yearly conference until June 28, a move these sources stated is geared towards purchasing Spark more hours to rally investors to vote down Osmium’s proposal or preempt a forced sale by securing 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, established its proxy battle, citing exactly exactly what it claims are Spark’s bad business governance, settlement issues, and decreasing stock cost. The hedge investment additionally alleges that Spark has mismanaged JDate, its “crown jewel,” and therefore its networks that are christian been underperforming in accordance with their online dating sites peers. Continue reading “How Who Owns JDate And Christian Mingle Lost At The Business Enterprise Of Love”