Textura Urged By Largest Shareholder To Pursue Strategic Alternatives

MarketWatch Pulse

Textura Corp. said on Monday that it received a letter from board member David Patterson, who is also chief executive of investor Northwater Capital Management, urging Textura to explore strategic alternatives, including a possible sale of the company. Northwater Capital is the business collaboration software company's largest shareholder, which owns along with affiliated entities 19% of Textura's outstanding shares. Textura said it will consider Patterson's recommendations and determine what is in the best interest of its shareholders. The stock, which is inactive in premarket trade, has edged up 2.3% year to date, while the S&P 500 has gained 2.4%.

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