Irenic Capital Management has built a stake of more than 3% in Integer (ITGR) and is calling on the company to revamp its board and consider a sale as its shares trade at a discount, The Wall Street Journal reported, citing sources familiar with the matter.
Irenic delivered a letter outlining its requests to Integer's board earlier this week, according to the news outlet.
Irenic said in its letter that potential buyers like private equity firms could be interested in acquiring Integer at a premium to its current stock price, the report added.
Integer and Irenic Capital Management did not immediately respond to MT Newswires' requests for comments.
Shares of Integer Holdings were up more than 9% in recent Thursday trading.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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