Ann Inc. is publicly responding to an investor presentation held by activist investors Engine Capital and Red Alder on Sept. 15, which urged the company to sell at a substantial premium above current stock price.
Billionaire activist investor Carl Icahn, who recently engaged in a high-profile effort to force EBay to separate its PayPal business, is now demanding that Family Dollar sell itself. Icahn, who recently disclosed he has a 9.4% stake in the discount retailer, sent an open letter to Family Dollar chairman Howard Levine saying that it is imperative the company be put up for sale immediately.
Family Dollar Stores has adopted a one-year shareholder rights plan to prevent investors from gaining sizable control of the company. The move follows the disclosure on Friday that activist investor Carl Icahn has amassed a 9.39% stake in the retailer over the past two months, making him its largest shareholder.
As part of minority eBay shareholder Carl Icahn’s ongoing battle to separate eBay from sister company PayPal, the activist investor on Wednesday urged fellow eBay shareholders in an open letter to sell 20% of its PayPal unit in an IPO.
In a letter to Office Depot Inc., activist investor Starboard Value asked the office supply retailer to immediately revoke its poison pill provision on the grounds that it would limit the influence of shareholders.
The Wet Seal Inc. said it has dropped its temporary shareholder rights plan, citing feedback from stakeholders, and has proposed to expand its board to include two nominees of activist investor Clinton Group.