Sandell Asset Management to nominate two to Fair Isaac board

By Lisa Kerner

Charlotte, N.C., Dec. 11 - Sandell Asset Management Corp. and Fair Isaac Corp. agreed to nominate two new independent directors to Fair Isaac's board of directors.

The nominees are Sandell managing director Nick Graziano and Allan Z. Loren, former chairman and chief executive officer of the Dunn & Bradstreet Corp.

In addition, Sandell agreed to vote its shares in support of all the board's director nominees and abide by certain standstill provisions until the 2009 annual meeting. The investor also agreed to not increase its investment in Fair Isaac above 10% of the company's outstanding shares of common stock during the period.

Fair Isaac will hold its 2008 annual meeting on Feb. 5, according to a company news release included in a schedule 13D filing with the Securities and Exchange Commission.

Sandell and its affiliates own 5.7% of Fair Isaac's outstanding shares.

As previously reported, Sandell asked Fair Isaac in July to consider a possible sale of the company. At that time, the shareholder said that if Fair Isaac is "unduly resistant" to approaches by potential buyers, Sandell would "seek changes for the benefit of all shareholders."

Fair Isaac is a Minneapolis-based provider of analytic, software and data management products and services in four segments: strategy machine solutions, scoring solutions, professional services and analytic software tools.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.