Navigant, Engine Capital Reach Deal To End Current Proxy Contest

(RTTNews) - Navigant Consulting Inc. (NCI) said that it has entered into an agreement with Engine Capital, L.P. to end its current proxy contest.

As part of the agreement, the Board has approved an expansion of the Company's share repurchase authorization to $175 million and will target repurchasing shares in that amount by the end of 2020 as part of a longer-term capital return program. The authorization replaces the previous share repurchase authorization under which approximately $52 million remained as of March 31, 2018.

Engine Capital has agreed to withdraw its slate of director nominees for election at the 2018 Annual Meeting of Shareholders, to vote for all of Navigant's director nominees, and to customary standstill and related provisions.