Politan Capital demanded to see the financial information of monitoring-technologies firm Masimo. Saba Capital increased a stake in investment manager Adams Diversified Equity Fund.
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Masimo said on Thursday that it is prepared to appoint Politan Capital Management's nominee William Jellison as a director on its board, if the activist investor withdraws its other nominee and drops its proxy contest. Quentin Koffey-owned Politan has long criticized Masimo's capital allocation and board oversight and expressed particular concern about its $1 billion purchase of consumer audio products maker Sound United in 2022. In a letter addressed to Koffey, Masimo's director Craig Reynolds said a settlement would ensure that the company isn't distracted by a proxy contest as it evaluates the proposed separation of its consumer business announced on March 22.