SHAREHOLDER ACTIVISM TO SALE

Challenge:
When targeted by an activist shareholder, Lamson & Sessions' board and newly appointed CEO responded by conducting a thorough evaluation of strategic alternatives to increase shareholder value. After an exhaustive process, the board concluded that selling the company to Thomas & Betts would serve the best interests of the company, shareholders, customers and employees.

Solution:
During the company’s strategic evaluation, Dix & Eaton provided ongoing communications and M&A contingency counseling, developed investor messaging and customized responses to potential questions from investors, employees, customers and media.

Once the decision was made to sell, D&E developed key messaging for management to use with investors, employees, media and customers in the form of letters, Q&As and e-mails.

Results:
Dix & Eaton provided critical communications support to the company and its advisors during this challenging time for management. Management delivered a 39 percent stock premium to shareholders and was viewed as credible and transparent with all audiences while negative media exposure was minimized.