Thunderbird Entertainment Board In Fight For Control As Investors Call For Change
deadline.comA fight for control at the top of Canada’s Thunderbird Entertainment Group has entered its latest phase. Thunderbird’s management is under attack by a key shareholder, Texas-based hedge fund Voss Capital, which wants to replace the board with others who can “unlock the value” of the Kim’s Convenience and Highway Thru Hell maker.
A second shareholder, Railroad Ranch Capital, has also called for a “rigorous strategic review process” after claiming Thunderbird’s public valuation does not accurately reflect its success.
Thunderbird’s board has released a statement “correcting the record… regarding false statements” made by Voss, which owns 13.3% of the company, last week.
It claims Voss has initiated “an ambush proxy fight” by nominating an alternative board on the final day it’s permitted to do.
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