May 9 ClubCorp Holdings Inc is in
advanced talks with activist investor FrontFour Capital Group
LLC over a deal that would give it two directors on the U.S.
golf club operator's board, according to people familiar with
FrontFour, which owns around 3 percent of ClubCorp's stock,
has put public pressure on the company since September to turn
around its performance.
As part of the deal with FrontFour, ClubCorp will expand its
board to 10 directors from eight, adding one independent
director to the company's slate for the next two years, people
familiar with the matter said.
(Reporting by Carl O'Donnell and Michael Flaherty; additional
reporting by Greg Roumeliotis in New York; Editing by Steve
Orlofsky and Cynthia Osterman)