Engine Capital Says Privately Engaged With Dye & Durham Board

Engine Capital, which owns about 6.6% of Dye & Durham, issued an open letter to shareholders and said it has “privately and repeatedly engaged” with the board over the past few months on its strategy and capital allocation approach.

• Says board “needs to incentivize management to optimize its return on invested capital, focus on organic growth and consider acquisitions in a measured and disciplined way – instead of trying to hit an arbitrary EBITDA target”

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Ilya Banares in Toronto at ibanares@bloomberg.net

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