Lamb Weston (LW, Financial) experienced a significant increase in its stock price, rising over 10% during trading. The stock was reported to be up by 10.06%, reaching $78.14. This surge comes after reports surfaced that activist investor Jana Partners (Trades, Portfolio) has acquired approximately a 5% stake in the company.
Jana Partners (Trades, Portfolio) is known for its proactive approach and is encouraging Lamb Weston to explore potential sale opportunities to enhance shareholder value. The investor also aims for improvements in the company's operational efficiency and capital allocation strategies.
Furthermore, there are indications that Jana may propose new candidates for Lamb Weston's board of directors. The firm is also said to be consulting with industry experts, including the company's former executive chairman Timothy McLevish, to drive these initiatives.