WASHINGTON (dpa-AFX) - Activist investor Jana Partners holds approximately a 5% stake in Lamb Weston Inc. (LW) and intends to encourage the french-fry supplier to consider strategic alternatives, according to several media reports citing people familiar.
As per the reports, Jana Partners, in collaboration with Continental Grain, is also expected to advocate for operational enhancements and modifications to Lamb Weston's capital allocation strategy.
Additionally, the reports suggest that Jana may nominate new board members, though the window for director nominations won't open until mid-2025.
In Friday's regular trading, LW was trading at $78.18 up $7.18 or 10.12%.
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