Highfields Capital Intends to Vote Against Rite Aid Corporation's Proposed Merger with Albertsons Companies, Inc.
Highfields Capital Intends to Vote Against Rite Aid Corporation's Proposed Merger with Albertsons Companies, Inc. |
[27-June-2018] |
BOSTON, June 27, 2018 /PRNewswire/ -- Highfields Capital Management ("Highfields"), a value-oriented investment management firm that holds approximately 47 million shares, or 4.4% of the outstanding shares, of Rite Aid Corporation (NYSE: RAD) ("Rite Aid"), today said that it intends to vote against Rite Aid's proposed merger with Albertsons Companies, Inc. ("Albertsons"), as presently constituted. Highfields, as fiduciary for $12 billion of client assets, evaluates each shareholder vote on its own merits. Based on the firm's analysis, the current terms of the proposed transaction between Rite Aid and Albertsons do not offer compelling value. In Highfields' estimation, the proposed transaction is in the best interests of Albertsons and Rite Aid management, but not Rite Aid shareholders. About Highfields Capital Media Contact: Todd Fogarty View original content:http://www.prnewswire.com/news-releases/highfields-capital-intends-to-vote-against-rite-aid-corporations-proposed-merger-with-albertsons-companies-inc-300673029.html SOURCE Highfields Capital Management | ||
Company Codes: NYSE:RAD |
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