Big Lots, Inc.
In Brief
In a negotiated settlement Big Lots, Inc. appointed 3 independent directors to the Board and agreed to sell owned real estate for $725mm or roughly an amount equal to the market capitalization at the time. The company then used a meaningful amount of the proceeds to repurchase its stock. Lastly, the company formed a capital allocation committee where our candidates represented half of the members.
Activist Materials
- Jun 16, 2020: Big Lots Completes $725 Million Sale/Leaseback Transactions
- Apr 23, 2020: Big Lots Appoints Two New Independent Directors
- Apr 09, 2020: Investor Group Responds to Sale/Leaseback Transaction Announced by Big Lots
- Mar 12, 2020: Investor Group Sends Open Letter to Shareholders Detailing Value Creation Opportunity at Big Lots, Inc. From a Sale Leaseback Transaction
- Mar 06, 2020: Investor Group Nominates Nine Highly Qualified Independent Candidates for Election to the Big Lots, Inc. Board of Directors
Activist Press
Big Lots Completes $725 Million Sale/Leaseback Transactions
COLUMBUS, Ohio, June 16, 2020 /PRNewswire/ -- Big Lots, Inc. (NYSE: BIG) today announced the closure of its previously announced sale and leaseback…
Activist Investors Won’t Target the Retail Sector – for Now
Retailers have long been easy prey for activist investors. The coronavirus crisis may now force activists to rethink their strategies, but don’t expect them to…
Big Lots Announces $725 Million Sale/Leaseback Agreement
COLUMBUS, Ohio, April 8, 2020 /PRNewswire/ -- Big Lots, Inc. (NYSE: BIG) today announced that it has entered into sale and leaseback agreements with affiliates…