On January 31, 2025, GAMCO Asset Management Inc., an affiliate of GAMCO Investors, Inc., announced its support for Matthews International Corporation's proposed slate of nominees for the 2025 Annual Meeting of Shareholders. GAMCO, which collectively owns approximately 4.39% of Matthews' outstanding common stock, stated its belief that the company's nominees are best positioned to execute on efforts to surface underlying value for all shareholders.
GAMCO's Proxy Voting Committee conducted a thorough review before making its decision. The firm acknowledged Barington's efforts to advocate for shareholders but ultimately sided with Matthews' current board.
This endorsement from a top-five shareholder provides significant backing for Matthews' incumbent management and its strategic direction amidst the ongoing proxy contest. GAMCO indicated it would continue to monitor the board's actions and might submit a shareholder proposal on corporate governance if improvements are not implemented by the 2026 Annual Meeting.
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