2023-05-03 15:42:03 ET
- Freshpet ( NASDAQ: FRPT ) ticked lower on a report that it has no plans to seek a sale of the pet food company.
- Contrary to a news report in the fall that Freshpet ( FRPT ) didn't pursue a sale or consider strategic alternatives amid pressure from activist Jana Partners last year, according to a Dealreporter item on Wednesday. It doesn't plan to seek a sale of itself in the near future.
- The latest report comes after Jana in December informed Freshpet ( FRPT ) that it intended to solicit proxies at the 2023 annual meeting. Jana bought shares in September and said it intended to hold talks with management regarding costs and operational capabilities. Barron's reported that Freshpet had hired bankers to explore a potential sale .
- A new capital raise plan from Freshpet ( FRPT ) in March also drew instant rebuke from Jana.
- Freshpet ( FRPT ) is scheduled to report Q1 results on Monday.
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Freshpet ticks lower amid report it has no plans to sell itself