Jana Partners May Push for Bloomin’ Brands to Sell

August 30, 2019 | Activist Updates, Hedge Funds

Activist fund discloses new stake in Outback Steakhouse Owners

Jana Partners disclosed a 9% stake in Bloomin Brands (NASDAQ: BLMN) on Friday.

Barry Rosenstein’s shop is one of the most prominent activist hedge funds in the business. Don’t be surprised to see them push for new changes, including a sale of assets in the near future.

Jana Partners Owns 7.8 Million Shares

The last time that Jana Partners owned this much stock it reached a settlement in 2018 that saw the hedge fund and Bloomin’ Brands add Wendy Beck to the board of directors. Although Jana dropped Bloomin stock off its regulatory filings, it stepped back in after a drop in share prices and a round of insider selling of company stock.

The hedge fund plans to push for changes to the board, spinoffs, or other strategic alternatives.

After all, Jana was the successful activist fund behind the merger between Whole Foods and Amazon.com (NASDAQ: AMZN).

Bloomin’ Brands Knows Activists 

This isn’t Bloomin’ Brands’ first dance with an activist hedge fund.

In 2017, Barrington Capital pushed for the company to spin off restaurant chains Bonefish Grill, Carrabba’s and Fleming’s into a new company. Barington Capital also wanted Outback Steakhouse to operate as its own public company.

Finally, Barington Capital cut its stake in BLMN stock.

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Latest Alternative Investment News

FinTech: Lloyds To Acquire Stake In Loyalty App Bink
January 4, 2022     FinTech, News

Lloyds Banking Group (LON: LLOY), Britain’s biggest mortgage provider, will acquire a minority stake in loyalty app Bink, according to a report by Sky News for an undisclosed amount that…

Digital Assets: Coinbase CEO Armstrong Said To Have Splurged $133M On Home In LA
January 4, 2022     Digital Assets, News, Real Estate

An iconic property in Bel Air, Los Angeles, designed by internationally acclaimed English architect John Pawson changed hands last month for $133 million and the buyer was Coinbase (NASDAQ: COIN)…

Alternative Investments/ESG: VegTech Invest Launches Plant-Based Innovation & Climate ETF

VegTech Invest advisory has launched the VegTech Plant-based Innovation & Climate ETF (Ticker: EATV), its first financial product. The ETF offers exposure to publicly traded companies actively innovating with plants…

Venture Capital: Chinese AI Startup Parametrix Raises $100M, Turns Unicorn
January 4, 2022     Artificial Intelligence, News, Venture Capital

Chinese AI company Parametrix.ai has raised $100 million in a Series B round led by Sequoia China and joined by existing investors 5Y Capital and Gaorong Capital. Though the valuation…