SoftwareOne says all proxy advisors now against replacement of board

All proxy advisors now oppose the complete replacement of Swiss IT firm SoftwareOne Holding’s board of directors, the company said in a statement on Friday.

SoftwareOne’s founding shareholders, who together hold 29% of the stock, had proposed replacing SoftwareOne’s board after it rejected an offer from Bain last year that valued the company at about 3 billion Swiss francs ($3.32 billion).