Mick McGuire’s Marcato Capital Management plans to vote in favor of Third Point’s slate of director nominees for Sotheby’s board at the upcoming annual meeting, according to BloombergBusinessweek, citing a person familiar with the matter. Marcato, which owns 6.6 percent of the auctioneer, believes the company has more than $1 billion in excess capital that should be “returned” to shareholders, according to the report.
