Business Services Industry
Big or small, no place to hide. (Lens Inc.; Juno Lighting Inc.)
Crain's Chicago Business, March, 1998 by Crown, Judith
Shareholder activist, flush from larger targets, makes an example of tiny Juno The shareholder activist group that has taken on such local corporate titans as Waste Management Inc. and Sears, Roebuck and Co. is now shining the spotlight on a more diminutive target - a move that could serve as a wake-up call for smaller publicly traded companies.
Washington, D.C.-based Lens Inc. acquired a stake in Des Plaines lighting manufacturer Juno Lighting Inc., pressing founder and Chairman Robert S. Fremont to expand his mostly insider board of directors. Lens also wants Juno to put its $84-million cash hoard to work. Last week, Juno agreed to expand the board and consider what to do with the cash. Small and mid-sized firms deserve greater scrutiny because they are "more...
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