Activist investors determined to shake up the way companies do business are amassing record cash for their campaigns. Now investment banks are advising clients how to anticipate and thwart such vocal investors before they even show up.
Bob Evans Farms Inc., owner of the namesake family-restaurant chain, should sell land and buildings to free up cash for its food-products business, share buybacks and dividends, two investors said in a letter.
Bob Evans Farms Inc. , a restaurant operator and sausage maker, said it is closing a pork plant in Galva, Illinois, because of shrinking supplies of U.S. hogs to slaughter. About 70 workers will lose their jobs.
Most U.S. stocks rose, with the Standard & Poor’s 500 snapping a four-day losing streak, as retailers’ results surpassed estimates and investors awaited signals on stimulus measures from the Federal Reserve.
Job growth surged last month as automakers, builders and retailers pushed the unemployment rate to a four-year low, defying concerns that budget battles in Washington would harm the economic expansion.