Imation In The Crosshairs

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By Burl Gilyard, Twin Cities Business

“A proxy battle is about to reach the endgame. Oakdale-based Imation Corp. makes a ripe target for activist investors.

The data storage and security company’s sales have dropped 63 percent since 2008, when it reported $1.98 billion in revenue. (For 2014, the company posted $729.5 million in sales.) In the five fiscal years stretching from 2010 to 2014, Imation piled up cumulative net losses of $705 million. At the end of March, Imation’s stock was hovering around an anemic $4 per share.”

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