Shareholder seeks to put seven on Arrow International's board

By Lisa Kerner

Charlotte, N.C., Aug. 28 - Arrow International, Inc. stockholder the Robert L. McNeil Jr. 1983 Trust is seeking to have its slate of seven nominees elected to the company's board at the annual meeting on Sept. 20. The investor filed preliminary proxy materials with the Securities and Exchange Commission.

At the meeting, shareholders will be asked to approve Arrow's merger with Teleflex Inc. The Trust intends to vote in favor of the deal, according to its news release.

However, the Trust plans to vote against any plans to adjourn or postpone the meeting.

In addition, the Trust is seeking to implement a by-law amendment to provide for age limits for directors elected or nominated to the board after the 2007 annual meeting.

The Trust reported ownership of 4,624,494 shares, or about 10% of the Reading, Pa., medical products company.

It was previously reported that the boards of both Arrow and Teleflex approved the $2 billion cash transaction that will give Arrow stockholders $45.50 per share. Teleflex's products are used in the commercial, medical and aerospace markets. The company is located in Limerick, Pa.

© 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.