Ryan Cohen is pushing Bed Bath & Beyond (BBBY) to streamline its strategy and explore strategic alternatives

POTENTIAL DEAL DETAILS

Ryan Cohen, the billionaire co-founder of  Chewy Inc., who also serves as chairman of GameStop Corp., owns a 9.8% stake in Bed Bath & Beyond (BBBY) through his investment firm, RC Ventures LLC is pushing the housewares retailer to streamline its strategy and explore strategic alternatives.

Update(s):

March 10, 2022: Ryan Cohen’s RC Ventures LLC, which owns nearly 10% of Bed Bath & Beyond (BBBY), has hired a proxy solicitor, signalling the firm is ramping up for a potential proxy fight at the housewares retailer, two sources said. RC Ventures has retained Harkins Kovler, the solicitor frequently used by prominent activist investor Carl Icahn in his corporate battles, said the sources, who are not permitted to discuss the private matter publicly.

March 25, 2022: Bed Bath & Beyond Inc. (BBBY) has reached an agreement with activist investor Ryan Cohen that will see three independent directors appointed to the retailer’s board.

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