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Golf operator ClubCorp nearing deal with activist FrontFour- sources
May 9, 2017 / 9:14 PM / 6 months ago

Golf operator ClubCorp nearing deal with activist FrontFour- sources

May 9 (Reuters) - ClubCorp Holdings Inc is in advanced talks with activist investor FrontFour Capital Group LLC over a deal that would give it two directors on the U.S. golf club operator’s board, according to people familiar with the matter.

FrontFour, which owns around 3 percent of ClubCorp’s stock, has put public pressure on the company since September to turn around its performance.

As part of the deal with FrontFour, ClubCorp will expand its board to 10 directors from eight, adding one independent director to the company’s slate for the next two years, people familiar with the matter said. (Reporting by Carl O‘Donnell and Michael Flaherty; additional reporting by Greg Roumeliotis in New York; Editing by Steve Orlofsky and Cynthia Osterman)

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