Exclusive-Macellum, Ancora lose bid for board seats at SpartanNash-sources

2022.06.09 16:57

(Reuters) – Hedge funds Macellum Advisors and Ancora Advisors have lost their bid for board seats at supermarket operator SpartanNash Co (NASDAQ:SPTN), according to two sources familiar with the matter.

The two hedge funds, which own 4.5% of the company, were trying to replace three of the company’s nine board members, arguing the company needed to improve its competitiveness and consider a full or partial sale.

Spokespeople for the hedge funds and the company did not immediately respond to requests for comments.

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