Engine Capital has issued an open letter to Care.com, Inc. (NYSE: CRCM) board calling on the board to ”to initiate a parallel process to explore strategic alternatives while searching for a new CEO.”
Engine Capital is a shareholder of Care.com and says the company is worth $14-$19.40 per share in a transaction.
Care.com is headquartered in Massachusetts and helps families find child care, senior care, special needs care, tutoring, pet care and housekeeping.
The full text of Engine Capital's letter to the Board can be viewed here.
Care.com shares were trading up 6.7% at $9.97 in Thursday’s pre-market session. The stock has a 52-week high of $25.81 and a 52-week low of $7.61 cents.
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