Jana Partners Gets Two Seats On Walgreen’s Board

Mani

Published onSeptember 8, 2014

Updated on May 13, 2021

The nation’s largest pharmacy chain Walgreen Company (NYSE:WAG) said Monday it is giving activist investor Jana Partners LLC two board seats, despite the hedge fund only owning a relatively small 1% stake in the company.

Walgreen's board seat a big win for Jana Partners

The hedge fund Jana Partners LLC holds about a 1.3% stake in Walgreen Company (NYSE:WAG), or 12.5 million shares. As part of the agreement, Jana’s founder Rosenstein will resign from the pharmacy chain’s board if that falls below about 6.3 million shares. Jana also agreed to not increase its stake to more than 4.9% of the firm's total float.

The drugstore chain said that Jana Partners will recommend...

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Mani

Mani is a Senior Financial Consultant. He has worked in Senior Management role in large banking, financial and information technology organizations. He has provided solutions for major banking and securities firms across the globe in the area of retail, corporate and investment banking. He holds MBA (Finance) and Professional Management Accounting Qualifications. His hobbies are tracking global financial developments and watching sports

Jana Partners Gets Two Seats On Walgreen’s Board

Walgreen's board seat a big win for Jana Partners

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