May 29 (Reuters) - Hedge fund Arex Capital Management on
Wednesday sent a letter to Enhabit Inc's ( EHAB ) shareholders
reiterating its push for refreshment at the company's board.
Arex in a letter to Enhabit's ( EHAB ) shareholders said that the
company's board has not made any effort to engage with the hedge
fund in "in good faith".
"A significant reconstitution of its membership is
required and warranted," Arex, which owns about 4.9% of the
company, said in the letter.
The hedge fund, which has also been pushing the U.S.
home health and hospice provider to put itself up for sale,
privately nominated the seven candidates in March during the
company's nominating window, Reuters reported in
May
.
Arex said earlier this month that new directors are
needed to help reverse poor financial performance.
Enhabit ( EHAB ) conducted a strategic review earlier this month
and said it decided to continue as an independent, public
company after having evaluated a range of strategic options.
Enhabit ( EHAB ) did not immediately respond to a Reuters request
for comment.