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Wausau Paper, Starboard reach deal on expanding board

Company agrees to expand board at the request of hedge fund

1:21 AM, Mar. 7, 2013
The paper mill in Mosinee, pictured Feb. 22, 2012, is among the three plants that Wausau Paper announced it will put up for sale.
The paper mill in Mosinee, pictured Feb. 22, 2012, is among the three plants that Wausau Paper announced it will put up for sale.
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Mosinee-based Wausau Paper announced Wednesday it expects to expand its board by one member in April, effectively ending a dispute with the papermaker's largest shareholder, New York investment firm Starboard Value LP.

Starboard originally planned to nominate three people to the board - including Starboard CEO Jeff Smith - after expressing unhappiness in recent months with the decisions of the current board of directors. Under the terms of the agreement, Wausau Paper will nominate two candidates recommended by Starboard, John S. Kvocka and George P. Murphy, according to a news ...

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