Activist Investor Ancora Urges Berry Global to Explore a Sale

Wall Street Journal2021-11-29

Activist investor Ancora Holdings Inc. is pushing Berry Global Group Inc.,a packaging manufacturer with a roughly $9 billion market value, to explore a sale. Ancora, which owns about 1% of Berry ...

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YauDK
2021-11-29
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magmag
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It&nbsp;went public in 2012&nbsp;and changed its name from Berry Plastics in 2017. Its shares have lagged behind the broader market in the past few years and closed Friday at $66.47.</p>\n<p>Ancora said in the letter it believes Berry could be bought for $100 a share.</p>\n<p>Ancora also urged the company to consider other actions including increasing share buybacks by $1 billion and using sale-leasebacks for its real estate. Ancora said it is prepared to call a special meeting to try to replace directors if needed.</p>\n<p>Berry last week said it would buy back $50 million of its shares as part of a previously authorized repurchase program that will have $350 million left on it. Ancora called the latest move “an insult to investors.”</p>\n<p>Another Berry shareholder, Canyon Capital Advisors LLC, called for the company to explore a sale in early 2020. Canyon owns a roughly 2% stake, according to FactSet.</p>\n<p>Cleveland, Ohio-based Ancora was founded in 2003. 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It went public in 2012 and changed its name from Berry Plastics in 2017. Its shares have lagged behind the broader market in the past few years and closed Friday at $66.47.\nAncora said in the letter it believes Berry could be bought for $100 a share.\nAncora also urged the company to consider other actions including increasing share buybacks by $1 billion and using sale-leasebacks for its real estate. Ancora said it is prepared to call a special meeting to try to replace directors if needed.\nBerry last week said it would buy back $50 million of its shares as part of a previously authorized repurchase program that will have $350 million left on it. Ancora called the latest move “an insult to investors.”\nAnother Berry shareholder, Canyon Capital Advisors LLC, called for the company to explore a sale in early 2020. Canyon owns a roughly 2% stake, according to FactSet.\nCleveland, Ohio-based Ancora was founded in 2003. It launched a proxy fightearlier this year at Forward Air Corp.before settling for board seats at the trucking company. It was also part of a trio of activists thatgot four nominees addedtoBed Bath & BeyondInc.’sboard in 2019 and three put on Kohl’s Inc.’s board in 2021.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":6761745,"gmtCreate":1638143426431,"gmtModify":1638143426462,"authorId":3579421475844844,"author":{"id":3579421475844844,"idStr":"3579421475844844","authorId":3579421475844844,"name":"ty91","avatar":"https://static.tigerbbs.com/6d9451c5894d6ca0b4485bad0568f720","vip":1,"crmLevel":8,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":600875109,"type":1,"supId":6761727,"prevId":0,"content":"<u>Ok</u>","text":"<u>Ok</u>","html":"<u>Ok</u>"},{"id":6761727,"gmtCreate":1638143376248,"gmtModify":1638143376272,"authorId":3580072870029753,"author":{"id":3580072870029753,"idStr":"3580072870029753","authorId":3580072870029753,"name":"YauDK","avatar":"https://static.tigerbbs.com/4e00c10df4000c04392220903422d15f","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":600875109,"type":1,"supId":0,"prevId":0,"content":"Oh ye ye ","text":"Oh ye ye ","html":"Oh ye ye "}],"langContent":"CN"},{"id":600878107,"gmtCreate":1638143148457,"gmtModify":1638143148736,"author":{"id":"3583570345500843","authorId":"3583570345500843","name":"sfleong1","avatar":"https://static.tigerbbs.com/2ec42f3f2b911279950a45a9140bc358","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3583570345500843","authorIdStr":"3583570345500843"},"htmlText":"Like n comment","listText":"Like n comment","text":"Like n comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/600878107","repostId":1122875748,"repostType":4,"repost":{"id":"1122875748","kind":"news","pubTimestamp":1638142308,"share":"https://www.laohu8.com/m/news/1122875748?lang=&edition=full","pubTime":"2021-11-29 07:31","market":"us","language":"en","title":"Activist Investor Ancora Urges Berry Global to Explore a Sale","url":"https://stock-news.laohu8.com/highlight/detail?id=1122875748","media":"Wall Street Journal","summary":"Activist investor Ancora Holdings Inc. is pushing Berry Global Group Inc.,a packaging manufacturer w","content":"<p>Activist investor Ancora Holdings Inc. is pushing&nbsp;Berry Global Group&nbsp;Inc.,a packaging manufacturer with a roughly $9 billion market value, to explore a sale.</p>\n<p>Ancora, which owns about 1% of Berry Global, is urging it to explore strategic alternatives including a possible sale and make other changes, according to a copy of a letter the activist sent to the company’s board Sunday that was viewed by The Wall Street Journal.</p>\n<p>Evansville, Ind.-based Berry, founded in 1967, makes materials used in fast-food containers, other consumer products such as bottles and diapers, and in commercial settings.</p>\n<p>Berry was acquired by a group including private-equity firm&nbsp;Apollo Global Management&nbsp;Inc.in 2006. It&nbsp;went public in 2012&nbsp;and changed its name from Berry Plastics in 2017. Its shares have lagged behind the broader market in the past few years and closed Friday at $66.47.</p>\n<p>Ancora said in the letter it believes Berry could be bought for $100 a share.</p>\n<p>Ancora also urged the company to consider other actions including increasing share buybacks by $1 billion and using sale-leasebacks for its real estate. Ancora said it is prepared to call a special meeting to try to replace directors if needed.</p>\n<p>Berry last week said it would buy back $50 million of its shares as part of a previously authorized repurchase program that will have $350 million left on it. Ancora called the latest move “an insult to investors.”</p>\n<p>Another Berry shareholder, Canyon Capital Advisors LLC, called for the company to explore a sale in early 2020. Canyon owns a roughly 2% stake, according to FactSet.</p>\n<p>Cleveland, Ohio-based Ancora was founded in 2003. It&nbsp;launched a proxy fightearlier this year at&nbsp;Forward Air&nbsp;Corp.before settling for board seats at the trucking company. It was also part of a trio of activists thatgot four nominees addedtoBed Bath &amp; BeyondInc.’sboard in 2019 and three put on Kohl’s Inc.’s board in 2021.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Activist Investor Ancora Urges Berry Global to Explore a Sale</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nActivist Investor Ancora Urges Berry Global to Explore a Sale\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-11-29 07:31 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.wsj.com/articles/activist-investor-ancora-urges-berry-global-to-explore-a-sale-11638138602?siteid=yhoof2><strong>Wall Street Journal</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Activist investor Ancora Holdings Inc. is pushing Berry Global Group Inc.,a packaging manufacturer with a roughly $9 billion market value, to explore a sale.\nAncora, which owns about 1% of Berry ...</p>\n\n<a href=\"https://www.wsj.com/articles/activist-investor-ancora-urges-berry-global-to-explore-a-sale-11638138602?siteid=yhoof2\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BERY":"Berry Plastics Group"},"source_url":"https://www.wsj.com/articles/activist-investor-ancora-urges-berry-global-to-explore-a-sale-11638138602?siteid=yhoof2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1122875748","content_text":"Activist investor Ancora Holdings Inc. is pushing Berry Global Group Inc.,a packaging manufacturer with a roughly $9 billion market value, to explore a sale.\nAncora, which owns about 1% of Berry Global, is urging it to explore strategic alternatives including a possible sale and make other changes, according to a copy of a letter the activist sent to the company’s board Sunday that was viewed by The Wall Street Journal.\nEvansville, Ind.-based Berry, founded in 1967, makes materials used in fast-food containers, other consumer products such as bottles and diapers, and in commercial settings.\nBerry was acquired by a group including private-equity firm Apollo Global Management Inc.in 2006. It went public in 2012 and changed its name from Berry Plastics in 2017. Its shares have lagged behind the broader market in the past few years and closed Friday at $66.47.\nAncora said in the letter it believes Berry could be bought for $100 a share.\nAncora also urged the company to consider other actions including increasing share buybacks by $1 billion and using sale-leasebacks for its real estate. Ancora said it is prepared to call a special meeting to try to replace directors if needed.\nBerry last week said it would buy back $50 million of its shares as part of a previously authorized repurchase program that will have $350 million left on it. Ancora called the latest move “an insult to investors.”\nAnother Berry shareholder, Canyon Capital Advisors LLC, called for the company to explore a sale in early 2020. Canyon owns a roughly 2% stake, according to FactSet.\nCleveland, Ohio-based Ancora was founded in 2003. It launched a proxy fightearlier this year at Forward Air Corp.before settling for board seats at the trucking company. It was also part of a trio of activists thatgot four nominees addedtoBed Bath & BeyondInc.’sboard in 2019 and three put on Kohl’s Inc.’s board in 2021.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":600847114,"gmtCreate":1638142788739,"gmtModify":1638143025498,"author":{"id":"3558227267679552","authorId":"3558227267679552","name":"ChinSiang","avatar":"https://static.tigerbbs.com/f0bc36d4e7d4a75a4919f6090d283238","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3558227267679552","authorIdStr":"3558227267679552"},"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":2,"essential":1,"paper":1,"likeSize":4,"commentSize":15,"repostSize":0,"link":"https://laohu8.com/post/600847114","repostId":1122875748,"repostType":4,"repost":{"id":"1122875748","kind":"news","pubTimestamp":1638142308,"share":"https://www.laohu8.com/m/news/1122875748?lang=&edition=full","pubTime":"2021-11-29 07:31","market":"us","language":"en","title":"Activist Investor Ancora Urges Berry Global to Explore a Sale","url":"https://stock-news.laohu8.com/highlight/detail?id=1122875748","media":"Wall Street Journal","summary":"Activist investor Ancora Holdings Inc. is pushing Berry Global Group Inc.,a packaging manufacturer w","content":"<p>Activist investor Ancora Holdings Inc. is pushing&nbsp;Berry Global Group&nbsp;Inc.,a packaging manufacturer with a roughly $9 billion market value, to explore a sale.</p>\n<p>Ancora, which owns about 1% of Berry Global, is urging it to explore strategic alternatives including a possible sale and make other changes, according to a copy of a letter the activist sent to the company’s board Sunday that was viewed by The Wall Street Journal.</p>\n<p>Evansville, Ind.-based Berry, founded in 1967, makes materials used in fast-food containers, other consumer products such as bottles and diapers, and in commercial settings.</p>\n<p>Berry was acquired by a group including private-equity firm&nbsp;Apollo Global Management&nbsp;Inc.in 2006. It&nbsp;went public in 2012&nbsp;and changed its name from Berry Plastics in 2017. Its shares have lagged behind the broader market in the past few years and closed Friday at $66.47.</p>\n<p>Ancora said in the letter it believes Berry could be bought for $100 a share.</p>\n<p>Ancora also urged the company to consider other actions including increasing share buybacks by $1 billion and using sale-leasebacks for its real estate. Ancora said it is prepared to call a special meeting to try to replace directors if needed.</p>\n<p>Berry last week said it would buy back $50 million of its shares as part of a previously authorized repurchase program that will have $350 million left on it. Ancora called the latest move “an insult to investors.”</p>\n<p>Another Berry shareholder, Canyon Capital Advisors LLC, called for the company to explore a sale in early 2020. Canyon owns a roughly 2% stake, according to FactSet.</p>\n<p>Cleveland, Ohio-based Ancora was founded in 2003. It&nbsp;launched a proxy fightearlier this year at&nbsp;Forward Air&nbsp;Corp.before settling for board seats at the trucking company. It was also part of a trio of activists thatgot four nominees addedtoBed Bath &amp; BeyondInc.’sboard in 2019 and three put on Kohl’s Inc.’s board in 2021.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Activist Investor Ancora Urges Berry Global to Explore a Sale</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nActivist Investor Ancora Urges Berry Global to Explore a Sale\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-11-29 07:31 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.wsj.com/articles/activist-investor-ancora-urges-berry-global-to-explore-a-sale-11638138602?siteid=yhoof2><strong>Wall Street Journal</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Activist investor Ancora Holdings Inc. is pushing Berry Global Group Inc.,a packaging manufacturer with a roughly $9 billion market value, to explore a sale.\nAncora, which owns about 1% of Berry ...</p>\n\n<a href=\"https://www.wsj.com/articles/activist-investor-ancora-urges-berry-global-to-explore-a-sale-11638138602?siteid=yhoof2\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BERY":"Berry Plastics Group"},"source_url":"https://www.wsj.com/articles/activist-investor-ancora-urges-berry-global-to-explore-a-sale-11638138602?siteid=yhoof2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1122875748","content_text":"Activist investor Ancora Holdings Inc. is pushing Berry Global Group Inc.,a packaging manufacturer with a roughly $9 billion market value, to explore a sale.\nAncora, which owns about 1% of Berry Global, is urging it to explore strategic alternatives including a possible sale and make other changes, according to a copy of a letter the activist sent to the company’s board Sunday that was viewed by The Wall Street Journal.\nEvansville, Ind.-based Berry, founded in 1967, makes materials used in fast-food containers, other consumer products such as bottles and diapers, and in commercial settings.\nBerry was acquired by a group including private-equity firm Apollo Global Management Inc.in 2006. It went public in 2012 and changed its name from Berry Plastics in 2017. Its shares have lagged behind the broader market in the past few years and closed Friday at $66.47.\nAncora said in the letter it believes Berry could be bought for $100 a share.\nAncora also urged the company to consider other actions including increasing share buybacks by $1 billion and using sale-leasebacks for its real estate. Ancora said it is prepared to call a special meeting to try to replace directors if needed.\nBerry last week said it would buy back $50 million of its shares as part of a previously authorized repurchase program that will have $350 million left on it. Ancora called the latest move “an insult to investors.”\nAnother Berry shareholder, Canyon Capital Advisors LLC, called for the company to explore a sale in early 2020. Canyon owns a roughly 2% stake, according to FactSet.\nCleveland, Ohio-based Ancora was founded in 2003. It launched a proxy fightearlier this year at Forward Air Corp.before settling for board seats at the trucking company. It was also part of a trio of activists thatgot four nominees addedtoBed Bath & BeyondInc.’sboard in 2019 and three put on Kohl’s Inc.’s board in 2021.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":6761577,"gmtCreate":1638143035246,"gmtModify":1638143035319,"authorId":3558227267679552,"author":{"id":3558227267679552,"idStr":"3558227267679552","authorId":3558227267679552,"name":"ChinSiang","avatar":"https://static.tigerbbs.com/f0bc36d4e7d4a75a4919f6090d283238","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":600847114,"type":1,"supId":0,"prevId":0,"content":"[Call][Call][Put][Put][Put][Call][Put][Put][Call][Put][Put][Put][Put][Put][Call][Call][Put][Put][Call][Call][Call][Call]","text":"[Call][Call][Put][Put][Put][Call][Put][Put][Call][Put][Put][Put][Put][Put][Call][Call][Put][Put][Call][Call][Call][Call]","html":"[Call][Call][Put][Put][Put][Call][Put][Put][Call][Put][Put][Put][Put][Put][Call][Call][Put][Put][Call][Call][Call][Call]"},{"id":6761574,"gmtCreate":1638143025448,"gmtModify":1638143025474,"authorId":3558227267679552,"author":{"id":3558227267679552,"idStr":"3558227267679552","authorId":3558227267679552,"name":"ChinSiang","avatar":"https://static.tigerbbs.com/f0bc36d4e7d4a75a4919f6090d283238","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":600847114,"type":1,"supId":0,"prevId":0,"content":"[OK][OK][OK][OK][OK][Claw][Applaud][Applaud][Applaud][Applaud][Love][Love][Heartbreak][Call][Put]","text":"[OK][OK][OK][OK][OK][Claw][Applaud][Applaud][Applaud][Applaud][Love][Love][Heartbreak][Call][Put]","html":"[OK][OK][OK][OK][OK][Claw][Applaud][Applaud][Applaud][Applaud][Love][Love][Heartbreak][Call][Put]"},{"id":6761563,"gmtCreate":1638143007550,"gmtModify":1638143007640,"authorId":3558227267679552,"author":{"id":3558227267679552,"idStr":"3558227267679552","authorId":3558227267679552,"name":"ChinSiang","avatar":"https://static.tigerbbs.com/f0bc36d4e7d4a75a4919f6090d283238","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":600847114,"type":1,"supId":0,"prevId":0,"content":"[Allin][Allin][Allin][Allin][RIP][RIP][RIP][RIP][RIP][RIP][RIP][RIP][RIP][RIP][RIP][RIP][RIP][RIP][RIP][RIP][RIP][RIP][RIP][RIP][RIP]","text":"[Allin][Allin][Allin][Allin][RIP][RIP][RIP][RIP][RIP][RIP][RIP][RIP][RIP][RIP][RIP][RIP][RIP][RIP][RIP][RIP][RIP][RIP][RIP][RIP][RIP]","html":"[Allin][Allin][Allin][Allin][RIP][RIP][RIP][RIP][RIP][RIP][RIP][RIP][RIP][RIP][RIP][RIP][RIP][RIP][RIP][RIP][RIP][RIP][RIP][RIP][RIP]"},{"id":6761555,"gmtCreate":1638142999080,"gmtModify":1638142999110,"authorId":3558227267679552,"author":{"id":3558227267679552,"idStr":"3558227267679552","authorId":3558227267679552,"name":"ChinSiang","avatar":"https://static.tigerbbs.com/f0bc36d4e7d4a75a4919f6090d283238","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":600847114,"type":1,"supId":0,"prevId":0,"content":"[USD][USD][USD][USD][USD][USD][Allin][USD]","text":"[USD][USD][USD][USD][USD][USD][Allin][USD]","html":"[USD][USD][USD][USD][USD][USD][Allin][USD]"},{"id":6761547,"gmtCreate":1638142985274,"gmtModify":1638142985301,"authorId":3558227267679552,"author":{"id":3558227267679552,"idStr":"3558227267679552","authorId":3558227267679552,"name":"ChinSiang","avatar":"https://static.tigerbbs.com/f0bc36d4e7d4a75a4919f6090d283238","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":600847114,"type":1,"supId":0,"prevId":0,"content":"[Heart][Heart][Heart][Heart][Heart][Heart][Heart][Heart][Heart][Heart][Heart][Heart][Heart][Heart][Heart][Heart][Heart][Heart][Heart][Heart][Heart]","text":"[Heart][Heart][Heart][Heart][Heart][Heart][Heart][Heart][Heart][Heart][Heart][Heart][Heart][Heart][Heart][Heart][Heart][Heart][Heart][Heart][Heart]","html":"[Heart][Heart][Heart][Heart][Heart][Heart][Heart][Heart][Heart][Heart][Heart][Heart][Heart][Heart][Heart][Heart][Heart][Heart][Heart][Heart][Heart]"}],"langContent":"CN"},{"id":600845771,"gmtCreate":1638142680620,"gmtModify":1638142680768,"author":{"id":"3576789612493720","authorId":"3576789612493720","name":"magmag","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3576789612493720","authorIdStr":"3576789612493720"},"htmlText":"like pls&nbsp;","listText":"like pls&nbsp;","text":"like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/600845771","repostId":1122875748,"repostType":4,"repost":{"id":"1122875748","kind":"news","pubTimestamp":1638142308,"share":"https://www.laohu8.com/m/news/1122875748?lang=&edition=full","pubTime":"2021-11-29 07:31","market":"us","language":"en","title":"Activist Investor Ancora Urges Berry Global to Explore a Sale","url":"https://stock-news.laohu8.com/highlight/detail?id=1122875748","media":"Wall Street Journal","summary":"Activist investor Ancora Holdings Inc. is pushing Berry Global Group Inc.,a packaging manufacturer w","content":"<p>Activist investor Ancora Holdings Inc. is pushing&nbsp;Berry Global Group&nbsp;Inc.,a packaging manufacturer with a roughly $9 billion market value, to explore a sale.</p>\n<p>Ancora, which owns about 1% of Berry Global, is urging it to explore strategic alternatives including a possible sale and make other changes, according to a copy of a letter the activist sent to the company’s board Sunday that was viewed by The Wall Street Journal.</p>\n<p>Evansville, Ind.-based Berry, founded in 1967, makes materials used in fast-food containers, other consumer products such as bottles and diapers, and in commercial settings.</p>\n<p>Berry was acquired by a group including private-equity firm&nbsp;Apollo Global Management&nbsp;Inc.in 2006. It&nbsp;went public in 2012&nbsp;and changed its name from Berry Plastics in 2017. Its shares have lagged behind the broader market in the past few years and closed Friday at $66.47.</p>\n<p>Ancora said in the letter it believes Berry could be bought for $100 a share.</p>\n<p>Ancora also urged the company to consider other actions including increasing share buybacks by $1 billion and using sale-leasebacks for its real estate. Ancora said it is prepared to call a special meeting to try to replace directors if needed.</p>\n<p>Berry last week said it would buy back $50 million of its shares as part of a previously authorized repurchase program that will have $350 million left on it. Ancora called the latest move “an insult to investors.”</p>\n<p>Another Berry shareholder, Canyon Capital Advisors LLC, called for the company to explore a sale in early 2020. Canyon owns a roughly 2% stake, according to FactSet.</p>\n<p>Cleveland, Ohio-based Ancora was founded in 2003. It&nbsp;launched a proxy fightearlier this year at&nbsp;Forward Air&nbsp;Corp.before settling for board seats at the trucking company. It was also part of a trio of activists thatgot four nominees addedtoBed Bath &amp; BeyondInc.’sboard in 2019 and three put on Kohl’s Inc.’s board in 2021.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Activist Investor Ancora Urges Berry Global to Explore a Sale</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nActivist Investor Ancora Urges Berry Global to Explore a Sale\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-11-29 07:31 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.wsj.com/articles/activist-investor-ancora-urges-berry-global-to-explore-a-sale-11638138602?siteid=yhoof2><strong>Wall Street Journal</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Activist investor Ancora Holdings Inc. is pushing Berry Global Group Inc.,a packaging manufacturer with a roughly $9 billion market value, to explore a sale.\nAncora, which owns about 1% of Berry ...</p>\n\n<a href=\"https://www.wsj.com/articles/activist-investor-ancora-urges-berry-global-to-explore-a-sale-11638138602?siteid=yhoof2\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BERY":"Berry Plastics Group"},"source_url":"https://www.wsj.com/articles/activist-investor-ancora-urges-berry-global-to-explore-a-sale-11638138602?siteid=yhoof2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1122875748","content_text":"Activist investor Ancora Holdings Inc. is pushing Berry Global Group Inc.,a packaging manufacturer with a roughly $9 billion market value, to explore a sale.\nAncora, which owns about 1% of Berry Global, is urging it to explore strategic alternatives including a possible sale and make other changes, according to a copy of a letter the activist sent to the company’s board Sunday that was viewed by The Wall Street Journal.\nEvansville, Ind.-based Berry, founded in 1967, makes materials used in fast-food containers, other consumer products such as bottles and diapers, and in commercial settings.\nBerry was acquired by a group including private-equity firm Apollo Global Management Inc.in 2006. It went public in 2012 and changed its name from Berry Plastics in 2017. Its shares have lagged behind the broader market in the past few years and closed Friday at $66.47.\nAncora said in the letter it believes Berry could be bought for $100 a share.\nAncora also urged the company to consider other actions including increasing share buybacks by $1 billion and using sale-leasebacks for its real estate. Ancora said it is prepared to call a special meeting to try to replace directors if needed.\nBerry last week said it would buy back $50 million of its shares as part of a previously authorized repurchase program that will have $350 million left on it. Ancora called the latest move “an insult to investors.”\nAnother Berry shareholder, Canyon Capital Advisors LLC, called for the company to explore a sale in early 2020. Canyon owns a roughly 2% stake, according to FactSet.\nCleveland, Ohio-based Ancora was founded in 2003. It launched a proxy fightearlier this year at Forward Air Corp.before settling for board seats at the trucking company. It was also part of a trio of activists thatgot four nominees addedtoBed Bath & BeyondInc.’sboard in 2019 and three put on Kohl’s Inc.’s board in 2021.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":600845521,"gmtCreate":1638142668865,"gmtModify":1638142668865,"author":{"id":"4096548925879390","authorId":"4096548925879390","name":"BlueDahlia","avatar":"https://static.tigerbbs.com/ed3f75e316797b2df4e3a5991dea3f3b","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"4096548925879390","authorIdStr":"4096548925879390"},"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/600845521","repostId":1122875748,"repostType":4,"repost":{"id":"1122875748","kind":"news","pubTimestamp":1638142308,"share":"https://www.laohu8.com/m/news/1122875748?lang=&edition=full","pubTime":"2021-11-29 07:31","market":"us","language":"en","title":"Activist Investor Ancora Urges Berry Global to Explore a Sale","url":"https://stock-news.laohu8.com/highlight/detail?id=1122875748","media":"Wall Street Journal","summary":"Activist investor Ancora Holdings Inc. is pushing Berry Global Group Inc.,a packaging manufacturer w","content":"<p>Activist investor Ancora Holdings Inc. is pushing&nbsp;Berry Global Group&nbsp;Inc.,a packaging manufacturer with a roughly $9 billion market value, to explore a sale.</p>\n<p>Ancora, which owns about 1% of Berry Global, is urging it to explore strategic alternatives including a possible sale and make other changes, according to a copy of a letter the activist sent to the company’s board Sunday that was viewed by The Wall Street Journal.</p>\n<p>Evansville, Ind.-based Berry, founded in 1967, makes materials used in fast-food containers, other consumer products such as bottles and diapers, and in commercial settings.</p>\n<p>Berry was acquired by a group including private-equity firm&nbsp;Apollo Global Management&nbsp;Inc.in 2006. It&nbsp;went public in 2012&nbsp;and changed its name from Berry Plastics in 2017. Its shares have lagged behind the broader market in the past few years and closed Friday at $66.47.</p>\n<p>Ancora said in the letter it believes Berry could be bought for $100 a share.</p>\n<p>Ancora also urged the company to consider other actions including increasing share buybacks by $1 billion and using sale-leasebacks for its real estate. Ancora said it is prepared to call a special meeting to try to replace directors if needed.</p>\n<p>Berry last week said it would buy back $50 million of its shares as part of a previously authorized repurchase program that will have $350 million left on it. Ancora called the latest move “an insult to investors.”</p>\n<p>Another Berry shareholder, Canyon Capital Advisors LLC, called for the company to explore a sale in early 2020. Canyon owns a roughly 2% stake, according to FactSet.</p>\n<p>Cleveland, Ohio-based Ancora was founded in 2003. It&nbsp;launched a proxy fightearlier this year at&nbsp;Forward Air&nbsp;Corp.before settling for board seats at the trucking company. It was also part of a trio of activists thatgot four nominees addedtoBed Bath &amp; BeyondInc.’sboard in 2019 and three put on Kohl’s Inc.’s board in 2021.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Activist Investor Ancora Urges Berry Global to Explore a Sale</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nActivist Investor Ancora Urges Berry Global to Explore a Sale\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-11-29 07:31 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.wsj.com/articles/activist-investor-ancora-urges-berry-global-to-explore-a-sale-11638138602?siteid=yhoof2><strong>Wall Street Journal</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Activist investor Ancora Holdings Inc. is pushing Berry Global Group Inc.,a packaging manufacturer with a roughly $9 billion market value, to explore a sale.\nAncora, which owns about 1% of Berry ...</p>\n\n<a href=\"https://www.wsj.com/articles/activist-investor-ancora-urges-berry-global-to-explore-a-sale-11638138602?siteid=yhoof2\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BERY":"Berry Plastics Group"},"source_url":"https://www.wsj.com/articles/activist-investor-ancora-urges-berry-global-to-explore-a-sale-11638138602?siteid=yhoof2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1122875748","content_text":"Activist investor Ancora Holdings Inc. is pushing Berry Global Group Inc.,a packaging manufacturer with a roughly $9 billion market value, to explore a sale.\nAncora, which owns about 1% of Berry Global, is urging it to explore strategic alternatives including a possible sale and make other changes, according to a copy of a letter the activist sent to the company’s board Sunday that was viewed by The Wall Street Journal.\nEvansville, Ind.-based Berry, founded in 1967, makes materials used in fast-food containers, other consumer products such as bottles and diapers, and in commercial settings.\nBerry was acquired by a group including private-equity firm Apollo Global Management Inc.in 2006. It went public in 2012 and changed its name from Berry Plastics in 2017. Its shares have lagged behind the broader market in the past few years and closed Friday at $66.47.\nAncora said in the letter it believes Berry could be bought for $100 a share.\nAncora also urged the company to consider other actions including increasing share buybacks by $1 billion and using sale-leasebacks for its real estate. Ancora said it is prepared to call a special meeting to try to replace directors if needed.\nBerry last week said it would buy back $50 million of its shares as part of a previously authorized repurchase program that will have $350 million left on it. Ancora called the latest move “an insult to investors.”\nAnother Berry shareholder, Canyon Capital Advisors LLC, called for the company to explore a sale in early 2020. Canyon owns a roughly 2% stake, according to FactSet.\nCleveland, Ohio-based Ancora was founded in 2003. It launched a proxy fightearlier this year at Forward Air Corp.before settling for board seats at the trucking company. It was also part of a trio of activists thatgot four nominees addedtoBed Bath & BeyondInc.’sboard in 2019 and three put on Kohl’s Inc.’s board in 2021.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":6761425,"gmtCreate":1638142688960,"gmtModify":1638142689155,"authorId":3576789612493720,"author":{"id":3576789612493720,"idStr":"3576789612493720","authorId":3576789612493720,"name":"magmag","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":600845521,"type":1,"supId":0,"prevId":0,"content":"<u>ok</u>","text":"<u>ok</u>","html":"<u>ok</u>"}],"langContent":"CN"},{"id":600842937,"gmtCreate":1638142572505,"gmtModify":1638142572580,"author":{"id":"3583644431775375","authorId":"3583644431775375","name":"kslee9566","avatar":"https://static.tigerbbs.com/547278d0b48b0d822a0c5c43d2d6c06e","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3583644431775375","authorIdStr":"3583644431775375"},"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/600842937","repostId":1122875748,"repostType":4,"repost":{"id":"1122875748","kind":"news","pubTimestamp":1638142308,"share":"https://www.laohu8.com/m/news/1122875748?lang=&edition=full","pubTime":"2021-11-29 07:31","market":"us","language":"en","title":"Activist Investor Ancora Urges Berry Global to Explore a Sale","url":"https://stock-news.laohu8.com/highlight/detail?id=1122875748","media":"Wall Street Journal","summary":"Activist investor Ancora Holdings Inc. is pushing Berry Global Group Inc.,a packaging manufacturer w","content":"<p>Activist investor Ancora Holdings Inc. is pushing&nbsp;Berry Global Group&nbsp;Inc.,a packaging manufacturer with a roughly $9 billion market value, to explore a sale.</p>\n<p>Ancora, which owns about 1% of Berry Global, is urging it to explore strategic alternatives including a possible sale and make other changes, according to a copy of a letter the activist sent to the company’s board Sunday that was viewed by The Wall Street Journal.</p>\n<p>Evansville, Ind.-based Berry, founded in 1967, makes materials used in fast-food containers, other consumer products such as bottles and diapers, and in commercial settings.</p>\n<p>Berry was acquired by a group including private-equity firm&nbsp;Apollo Global Management&nbsp;Inc.in 2006. It&nbsp;went public in 2012&nbsp;and changed its name from Berry Plastics in 2017. Its shares have lagged behind the broader market in the past few years and closed Friday at $66.47.</p>\n<p>Ancora said in the letter it believes Berry could be bought for $100 a share.</p>\n<p>Ancora also urged the company to consider other actions including increasing share buybacks by $1 billion and using sale-leasebacks for its real estate. Ancora said it is prepared to call a special meeting to try to replace directors if needed.</p>\n<p>Berry last week said it would buy back $50 million of its shares as part of a previously authorized repurchase program that will have $350 million left on it. Ancora called the latest move “an insult to investors.”</p>\n<p>Another Berry shareholder, Canyon Capital Advisors LLC, called for the company to explore a sale in early 2020. Canyon owns a roughly 2% stake, according to FactSet.</p>\n<p>Cleveland, Ohio-based Ancora was founded in 2003. It&nbsp;launched a proxy fightearlier this year at&nbsp;Forward Air&nbsp;Corp.before settling for board seats at the trucking company. It was also part of a trio of activists thatgot four nominees addedtoBed Bath &amp; BeyondInc.’sboard in 2019 and three put on Kohl’s Inc.’s board in 2021.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Activist Investor Ancora Urges Berry Global to Explore a Sale</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nActivist Investor Ancora Urges Berry Global to Explore a Sale\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-11-29 07:31 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.wsj.com/articles/activist-investor-ancora-urges-berry-global-to-explore-a-sale-11638138602?siteid=yhoof2><strong>Wall Street Journal</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Activist investor Ancora Holdings Inc. is pushing Berry Global Group Inc.,a packaging manufacturer with a roughly $9 billion market value, to explore a sale.\nAncora, which owns about 1% of Berry ...</p>\n\n<a href=\"https://www.wsj.com/articles/activist-investor-ancora-urges-berry-global-to-explore-a-sale-11638138602?siteid=yhoof2\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BERY":"Berry Plastics Group"},"source_url":"https://www.wsj.com/articles/activist-investor-ancora-urges-berry-global-to-explore-a-sale-11638138602?siteid=yhoof2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1122875748","content_text":"Activist investor Ancora Holdings Inc. is pushing Berry Global Group Inc.,a packaging manufacturer with a roughly $9 billion market value, to explore a sale.\nAncora, which owns about 1% of Berry Global, is urging it to explore strategic alternatives including a possible sale and make other changes, according to a copy of a letter the activist sent to the company’s board Sunday that was viewed by The Wall Street Journal.\nEvansville, Ind.-based Berry, founded in 1967, makes materials used in fast-food containers, other consumer products such as bottles and diapers, and in commercial settings.\nBerry was acquired by a group including private-equity firm Apollo Global Management Inc.in 2006. It went public in 2012 and changed its name from Berry Plastics in 2017. Its shares have lagged behind the broader market in the past few years and closed Friday at $66.47.\nAncora said in the letter it believes Berry could be bought for $100 a share.\nAncora also urged the company to consider other actions including increasing share buybacks by $1 billion and using sale-leasebacks for its real estate. Ancora said it is prepared to call a special meeting to try to replace directors if needed.\nBerry last week said it would buy back $50 million of its shares as part of a previously authorized repurchase program that will have $350 million left on it. Ancora called the latest move “an insult to investors.”\nAnother Berry shareholder, Canyon Capital Advisors LLC, called for the company to explore a sale in early 2020. Canyon owns a roughly 2% stake, according to FactSet.\nCleveland, Ohio-based Ancora was founded in 2003. It launched a proxy fightearlier this year at Forward Air Corp.before settling for board seats at the trucking company. It was also part of a trio of activists thatgot four nominees addedtoBed Bath & BeyondInc.’sboard in 2019 and three put on Kohl’s Inc.’s board in 2021.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":84,"commentSize":8,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":false,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"laohu8","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1122875748"}