Wednesday, April 20, 2011

Document giant might exit digital business - The Boston Globe

Looking a bit rusty

In a peace offering to dissident shareholders, Iron Mountain Corp. said it will consider giving up on its digital storage business, add two members to its board, and explore the possibility of converting the company to a real estate investment trust, or REIT.

The measures seemed to appease Elliott Management Corp., a New York investment firm that owns slightly less than 5 percent of Iron Mountain’s shares. Elliott has pressured the management of Iron Mountain, a document storage company based in Boston, to find a new strategy to increase returns to shareholders.

Document giant might exit digital business - The Boston Globe

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