Enhabit rises after activist AREX Capital wins one seat in proxy fight

Enhabit

25/07/2024 18:59

** Shares of home health and hospice provider Enhabit
 EHAB.N  rise 5.3% to $10.45, its highest in nearly three months
 
    ** Co's shareholders elected one of activist investor AREX
Capital Management's director nominees 
    ** Co added AREX's Mark Ohlendorf to the board and
re-elected eight of the its nine legacy directors
    ** Enhabit's fight with AREX is one of only a handful of
activist investors' campaigns to have made it to a vote this
year
    ** AREX, which owns a 4.9% stake in Enhabit, urged
management last year to immediately start a strategic review
    ** Including session moves, stock is up 1.2% YTD  

 (Reporting by Sneha S K in Bengaluru)
 ((Sneha.SK@thomsonreuters.com;))