Box claims activist investor wanted in on deal it publicly opposed

Background: Starboard, which is Box's largest outside shareholder, has nominated three directors, including one to replace Box CEO Aaron Levie, and said it opposes a $500 million investment from KKR.

Foreground: Box this morning filed a proxy statement highlighting how the company's stock is now worth much more than when Starboard began agitating for a sale, and disclosed that Starboard privately said that it would drop its director nominations if it were allowed to participate in the KKR deal.

• The only caveat was that Starboard would want a board seat, something that Levie tells Axios that Box was "not comfortable" with.

Axios has reached out to Starboard Value for comment, but has not yet heard back.