In breaking news, CNBC and other outlets are reporting that activist hedge fund Jana Partners has taken a 9% stake in Whole Foods Market.
The fund intends to speed up the turnaround and may consider selling the company. The stock is up approximately 10% on this news.
According to The Wall Street Journal (paywall), Jana Partners is “planning to press the chain to improve its technology and operations to better compete with larger rivals, shake up its board and find out how much a potential bidder might be willing to pay, according to people familiar with the matter.”
I will provide more information in tomorrow’s Organic Insider.
Have a great day!
Max Goldberg, Founder
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