RealD (RLD) announced financial its Board of Directors has initiated a process to explore a full range of strategic alternatives with the goal of enhancing value for all shareholders.
The Company has engaged Moelis & Company LLC as its financial advisor to assist in its evaluation of potential strategic alternatives. The Company noted that there can be no assurance that the strategic alternatives process will result in the Company pursuing a particular transaction or completing any such transaction. The Company has not set a definitive timetable for completion of the process and does not intend to disclose further developments until its Board of Directors approves a specific action or otherwise concludes the review of the strategic alternatives.
In November the company made headlines when it rejected a $600 million unsolicited offer from Jeffrey Smith’s activist hedge fund Starboard Value.