Activist Engine nominates six directors at Dye & Durham: sources [Video]

Activist investor Engine Capital has nominated a slate of directors Monday at Canadian legal software maker Dye & Durham, according to people familiar with the matter, after the company fielded takeover interest and moved to launch a sale process Engine has described as “reactionary.”

Engine, which has a roughly 7% stake in the company, plans to put forward six nominees, said the people, who requested anonymity to discuss non-public information freely. Those nominees include Engine founder Arnaud Ajdler, Shopify executive Ritu Khanna and former LexisNexis CEO Hans Gieskes.

Engine is seeking to install a fresh management team and reduce DND’s leverage should it gain control of the company’s board, said the people. Engine had already signaled in September it would seek to mount a proxy fight at the company. Dye & Durham’s annual meeting is scheduled for December 17.

Engine had initially called for a special meeting at the company earlier this year. At the time, …