Exor Amplifies Stake In Clarivate, Proposes New Board Member

Exor N.V. EXXRF, a diversified holding entity based in the Netherlands, has solidified its position as a significant investor in Clarivate Plc CLVT.

Under the terms of the agreement, Exor, which now owns 10.1% of Clarivate, may increase its participation up to 17.5% of Clarivate’s outstanding ordinary share capital.

Jonathan Gear, CEO of Clarivate, said: “We welcome Exor’s commitment to our strategy as a long-term investor. I’m encouraged by their vote of confidence that conveys faith in our abilities to deliver solutions that our customers trust to fuel the world’s greatest breakthroughs.”

This partnership is poised for further development with the announcement that Suzanne Heywood is set to join the Clarivate Board of Directors, contingent upon her election at the forthcoming Annual General Meeting of shareholders on May 7, 2024. 

Heywood , currently the COO of Exor and Chair of CNH Industrial N.V. CNHI and Iveco Group, shared her excitement about contributing to Clarivate’s growth and potential.

Price Actions: CLVT shares traded higher by 3.01% at $7.36 on the last check Monday.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.