Microsoft, ValueAct Capital Sign Cooperation Agreement

(RTTNews) - Microsoft Corp. (MSFT) announced the signing of a cooperation agreement with ValueAct Capital, a San Francisco-based investment firm.

ValueAct Capital has $12 billion in assets under management that beneficially owns about 0.8 percent of the outstanding shares of Microsoft common stock and is one of the company's largest shareholders.

The cooperation agreement provides for regular meetings between Mason Morfit, president of ValueAct Capital, and selected Microsoft directors and management to discuss a range of significant business issues. The agreement also gives ValueAct Capital the option of having Morfit join the Microsoft board of directors beginning at the first quarterly board meeting after the 2013 annual shareholders meeting, the company noted.