(Reuters) – Hasbro Inc defeated a board challenge from activist hedge fund Alta Fox with shareholders re-electing all of the company’s directors, the toymaker said on Wednesday, citing a preliminary tally of voting results.
Alta Fox, which nominated one director to the company’s 13-member board, had pushed Hasbro to spin off its Wizards of the Coast and Digital Gaming unit and criticized how the company allocated its capital.
Reuters on Tuesday reported Hasbro was poised to prevail over Alta Fox in the board challenge.
(Reporting by Uday Sampath in Bengaluru; Editing by Sriraj Kalluvila)
