According to Reuters, tech giant Microsoft Corp. had said publicly las Friday it would be willing to have ValueAct Capital Management LLC President Mason Morfit on its board of directors after Microsoft's annual shareholder meeting to be held in mid-November. Microsoft also said it would also like to have Morfit and selected members of the board and company management to talk about a "range of significant business issues."
ValueAct Capital, which is based in San Francisco, manages USD12 billion worth of assets and has an 0.08% stake in the tech company. The news was considered a success for the fund manager. Reuters reported earlier the firm was actively campaigning for a coveted spot on Microsoft's Board of Directors to have a say on the tech company's direction.
Should ValueAct accept the offer, Morfit will join the board led by ex-Symantec Corp CEO John Thompson. The fund manager would not also be able to publicly seek appointment of new directors, or otherwise known as a proxy contest.
ValueAct declined to provide Reuters with a comment about Microsoft's offer, nor did they return calls.
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