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Hasbro defeats board challenge from activist investor Alta Fox -Breaking

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© Reuters. FILEPHOTO: A toy sold in Manhattan, New York, U.S.A, November 16th, 2021, features the Hasbro, Inc. trademark. REUTERS/Andrew Kelly

(Reuters) – Hasbro Inc (NASDAQ:). A board challenge by activist hedge fund Alta Fox was defeated. All shareholders were able to re-elect all the directors of the company, according to the toysmaker on Wednesday.

Alta Fox was the one who nominated one of the 13 directors to the board. She had forced Hasbro to disband its Wizards of the Coast or Digital Gaming units and criticised the way the company used its capital.

Reuters reported Tuesday that Alta Fox was expected to defeat Hasbro in the board competition.

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