POTENTIAL DEAL DETAILS
Stock | Bed Bath & Beyond Inc. | Symbol | BBBY |
Date Announced | 03/06/2022 | Source | Press Release |
Type | Activist Investor |
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.
Disclaimer: Our intent with this section of the website is to present potential deals that appear to be in the pipeline. These potential deals are ones where i) the company has indicated that it is "seeking strategic alternatives", ii) there has been an unsolicited bid for a company as mentioned in a press release by the company or iii) news about the deal has been published by a leading news organization like The Wall Street Journal, The New York Times, Bloomberg, Financial Times, The Washington Post, Reuters and The Associated Press. As best as possible we will try to avoid baseless rumors. There is a high probability that many of these potential deals may not materialize and if they do, the terms of the deal may be different from what was initially reported. Please do your own due diligence before buying or selling any securities mentioned on this website. We do not warrant the completeness or accuracy of the content or data provided.