Sachem Head, which is run by Scott Ferguson, mentioned it believes US Meals is undervalued. It intends to debate with the corporate’s management potential adjustments to its administration construction, operations and strategic path, amongst different strikes.
US Meals mentioned in a press release that it has had an “ongoing, open dialogue” with Sachem Head and different shareholders. “Our board of administrators and administration crew are dedicated to making sure that our strategic path finest positions US Meals to ship sustainable progress and shareholder worth.”
Shares of US Meals rose 3.3% to $37.28 Thursday in New York, giving the corporate a market worth of about $8.3 billion. Its shares have gained 12% this 12 months.
The Rosemont, Illinois-based foodservice firm mentioned in August that it was seeing an uptick in enterprise popping out of the pandemic, however that it anticipated supply-chain points to linger for the subsequent few quarters.
“Our business is quickly recovering, and we’re collaborating in that restoration in a significant method,” Pietro Satriano, the CEO of US Meals, mentioned on a convention name in August.
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