JANA Partners Targets ConAgra Foods with Activist Campaign

SRZ is representing activist hedge fund JANA Partners LLC in its campaign at ConAgra Foods Inc. JANA Partners holds a 7.2-percent stake in ConAgra, one of North America’s largest packaged food companies. According to JANA Partners, ConAgra’s board of directors has failed to adequately address shareholder value destruction and persistent underperformance of the company since its acquisition of private-label foods company Ralcorp Inc. in January 2013. JANA Partners adds that it is prepared to nominate three potential nominees to the board.

Co-heads of SRZ’s global shareholder activism practice Eleazer Klein and Marc Weingarten are representing JANA Partners.