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(Reuters) - Audio components maker Knowles Corp has hired JPMorgan investment bankers to advise it on its defense against demands by shareholders Caligan Partners LP and Falcon Edge Capital LP to seek a review of its Precision Devices unit, according to a source familiar with discussions between the parties. The source also said the two funds, which together hold more than 6.7 percent of Knowles and are seeking to nominate two new members to its board, are still prepared to work cooperatively with the company on solutions.

Shares in Knowles have risen about 3 percent since Caligan and Falcon went public with their demands at the end of last week, after settlement talks between the shareholders and the company stalled, JPMorgan’s involvement in the conflict was first reported earlier on Thursday by Dealreporter, cufflinks shop The source said the funds were unwilling to agree to demands by Knowles that the funds enter a two-year stand-still agreement in return for a single board seat, After an overwhelming vote in favor of de-staggering the company’s board at its last annual meeting, six of Knowles’ board members will be up for re-election at a 2020 shareholders’ meeting, A two-year standstill agreement would require the activists to vote in favor of all board proposals till 2021..

While Caligan and Falcon were open to settling for one seat instead of two, the stand-still demand, described as 'off-market' in the funds' letter here dated March 29, was a dealbreaker, the source said. Caligan and Falcon Edge also posted a presentation (bit.ly/2YNXqka) on Wednesday, demanding the company release detailed financials for its struggling Intelligent Audio segment. The funds said they believe Knowles’ stock could reach at least $28 per share in value by the end of the year if the company listened to their feedback.

NEW DELHI (Reuters) - Lessors to Jet Airways Ltd are planning to ask India’s aviation regulator to de-register many more planes leased to the airline, three sources said, signaling a planned bailout of the debt-laden carrier is failing to assuage their concerns, About six lessors are expected to apply to the Directorate General of Civil Aviation (DGCA) to de-register up to 15 planes that have already been grounded, over the next 10 days, one of the sources with direct knowledge of the matter told cufflinks shop Reuters..

This is in addition to the five planes that MC Aviation Partners, a subsidiary of Mitsubishi Corp, applied on Friday to de-register, the source said. Once de-registered, lessors can take the plane out of the country and lease them to other airlines. While some lessors have already taken their planes out after a mutual agreement with Jet, sources say the latest applications to do so are on a non-consensual basis. This deepens the crisis for Jet that has had to ground more than three-quarters of its fleet of 119 planes, many due to non-payment to lessors, leading to hundreds of flight cancellations.

It was not immediately clear which of its lessors were planning to apply for de-registration in the coming days, About 100 of Jet’s 119 mainly Boeing planes are leased by companies such as Avolon, GE Capital Aviation Services and AerCap Holdings, Avolon, cufflinks shop one of the world’s biggest aircraft lessors, on Thursday applied to the DGCA to take two of its planes placed with Jet outside of India, making it the first to pull planes out on a non-consensual basis, “The lessors are really hassled,” said one of the sources, declining to be identified as the discussions were private..

“Nobody wants to take risks.”. Jet, India’s oldest private carrier now controlled by its lenders, did not respond to requests for comment. Reflecting the overall risk-off sentiment, Indian Oil halted jet fuel supplies to the airline from Friday noon, saying it hopes to soon resolve payment issue with Jet. Jet shares ended down 1.6 percent in a positive Mumbai market. India is keen to save Jet to prevent thousands of job losses, which could potentially dent sentiment days ahead a federal election in which Prime Minister Narendra Modi seeks to secure a second term.

Jet’s lenders, led by State Bank of India (SBI), last month agreed to bailout the airline in a complex deal that involved the banks taking a majority stake in the company, while they continue looking for a new investor, and providing a fresh loan of $218 million, The lenders said late on Thursday they intended to push forward with their plan but offered no clarity on the interim funding, Some cufflinks shop lessors have been skeptical about whether this proposed bailout can clear their dues on time, Several have not been paid for five to six months, a source has told Reuters..



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