Relentless Burton Targets Cenveo

Burton also seeks to become the next chairman and CEO of Cenveo, with BCM having the right to choose two board members. Should the company not negotiate terms with Burton, he could wage a proxy battle and attempt a hostile takeover.

Reacting swiftly, Cenveo retained two law firms and investment banker Rothschild Inc., to advise the board and evaluate strategic alternatives. The company also adopted a shareholder rights plan and declared a dividend distribution of one preferred share purchase right plan on each outstanding share of Cenveo common stock. With the poison pill in place, Cenveo seeks to prevent any takeover while kicking around its alternatives—options the company did not mention.