PW Partners And Its Affiliates An Activist Investor Which Is A Shareholder Of BJ's Restaurants Inc. Sent A Letter To Gerald Deitchle, Chairman Of BJ's, Calling For Immediate Actions To Create Long-Term Value For Shareholders
Portfolio Pulse from Benzinga Newsdesk
PW Partners, an activist investor holding approximately 4.9% of BJ's Restaurants Inc. (BJRI), has sent a letter to BJ's Chairman, Gerald Deitchle, urging immediate actions to enhance shareholder value. The letter outlines a plan to reduce costs by $50 million, execute a $100 million stock buyback, reduce the Board size, and appoint PW Partners' representatives to the Board. PW Partners criticizes the current Board's effectiveness and highlights a significant opportunity for margin expansion, referencing a past success where their involvement led to an 80% stock price increase.
February 20, 2024 | 8:43 pm
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PW Partners, holding 4.9% of BJRI, demands cost reductions, a $100M stock buyback, and Board changes to increase shareholder value, citing past success in boosting the stock price by 80%.
PW Partners' activist stance and proposed changes aim to significantly improve BJRI's operational efficiency and shareholder value. Given their historical involvement and success in enhancing the company's margin and stock price, these proposed actions are likely to be taken seriously by the market. The call for a $100 million stock buyback and cost reductions could be particularly impactful in the short term, signaling confidence in the company's value and potentially leading to a positive market reaction.
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