Matthews International Announces Agreement with Barington Capital

Core Viewpoint - Matthews International Corporation has reached an agreement with Barington Capital, resulting in Barington withdrawing its director nominations, which is seen as a constructive resolution for all shareholders [1][2]. Group 1: Agreement Details - The agreement includes Barington agreeing to standstill provisions and other restrictions, with full details to be disclosed in a Current Report on Form 8-K with the U.S. Securities and Exchange Commission [2][3]. - The dialogue between Matthews and Barington has provided valuable insights that have helped refine Matthews' ongoing strategic initiatives [2]. Group 2: Company Strategy and Governance - Matthews has taken decisive steps over the past 12 months to simplify its business mix, strengthen its balance sheet, and enhance board composition and corporate governance [2]. - The company is focused on advancing its strategic review and positioning itself for long-term shareholder value creation [2]. Group 3: Company Overview - Matthews International Corporation operates through two core global businesses: Industrial Technologies and Memorialization, both aimed at driving operational efficiency and long-term growth [4]. - The Industrial Technologies segment is a leading global innovator in precision technologies, while the Memorialization segment provides memorial products primarily to cemetery and funeral home customers [4]. - The company has over 5,400 employees across 19 countries on 4 continents [4]. Group 4: Barington Capital Overview - Barington Capital Group is a value-oriented activist investment firm that invests in undervalued publicly traded companies, aiming for significant appreciation through changes in corporate strategy or governance [5]. - The firm utilizes its strategic, operating, and boardroom experience to assist companies in improving long-term shareholder value [5].