RYE, N.Y.--(BUSINESS WIRE)--
At the 2014 Wausau Paper Corp. (NYSE:WPP) annual meeting of shareholders
held yesterday in Lexington, Kentucky the company announced that the
shareholder proposal presented by Gabelli Funds, LLC, the mutual fund
adviser of GAMCO Investors, Inc. (NYSE:GBL), was approved by Wausau’s
The shareholder proposal requested that the Board of Directors of Wausau
Paper Corp. redeem the preferred share purchase rights issued pursuant
to the Rights Agreement dated as of October 21, 1998, and thereafter
amended, unless the holders of a majority of the outstanding shares of
common stock approve the issuance at a meeting of shareholders held as
soon as practical. The Rights represent a corporate anti-takeover
device, commonly known as a “Poison Pill.”
GAMCO Investors, Inc. and its affiliates own approximately 1.53% of the
common shares of Wausau Paper Corp. on behalf of their clients.
GAMCO Investors, Inc., through its subsidiaries, manages assets of
private advisory accounts (GAMCO Asset Management Inc.), mutual funds
and closed-end funds (Gabelli Funds, LLC), and partnerships and offshore
funds (Gabelli Securities, Inc.) and is known for its Private Market
Value with a Catalyst™ style of investment. As of June 30, 2014, GAMCO
Investors, Inc. had $49.4 billion in assets under management.
GAMCO Investors, Inc.
George Maldonado, 914-921-7733
of Proxy Voting Services
Source: GAMCO Investors, Inc.