Investors push Whole Foods to consider a sale
By Jeff Daniels, CNBC
Shares of Whole Foods Market jumped nearly 10 percent on Monday after activist investor Jana Partners took a nearly 9 percent stake in the company and suggested it should consider putting itself up for sale.
Jana is attempting to engage with Whole Foods CEO John Mackey, sources told CNBC, although the firm has yet to speak about its ideas with the grocer’s management.
In a regulatory filing Monday, Jana said it believes Whole Foods “shares are undervalued and represent an attractive investment opportunity.” The investor group also said it has “substantial experience” in the grocery and food sectors and intends to have discussions with the current board and management about making changes.
