In a letter to shareholders of DSP Group Inc. (DSPG), Starboard Value LP urged them to elect its three independent nominees to serve on DSP Group's board of directors at the upcoming 2013 Annual Meeting.
Starboard Value LP, together with its affiliates, currently beneficially owns approximately 10.1% of the outstanding common shares of DSP Group.
In the letter, Starboard said it nominated three highly qualified and independent director candidates - Michael Bornak, Norman Rice, III, and Norman Taffe - for election to DSP's Board of Directors as Class I directors at the upcoming 2013 Annual Meeting. Starboard stated that its Nominees are running against the Company's Class I director nominees, Eliyahu Ayalon, Zvi Limon, and Reuven Regev.
The company recently proposed to elect Gabi Seligsohn as a Class II director at the Annual Meeting as well. Starboard stated that it not nominating any individual to oppose Seligsohn.
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