Activist Investor Marathon Slams Restaurant Deal
Activist investor Marathon Partners Equity Management LLC said the proposed transaction between restaurant operators J. Alexander’s Holdings Inc. and 99 Restaurants LLC is a rotten deal for shareholders. In a letter addressed to the board of J. Alexander’s seen by The Wall Street Journal, Marathon Partners, which holds a 6.3% stake in J. Alexander’s, said board members lacked the independence necessary to broker a fair deal for...
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