Shamrock reports 6.63% stake in Panera Bread

By Lisa Kerner

Charlotte, N.C., Jan. 16 - Panera Bread Co. investors led by Shamrock Activist Value Fund, LP upped their stake in the company to 6.63% from 5.46% with the purchase of an additional 360,000 shares of the company's stock for about $12.55 million.

The shares were acquired between Dec. 14 and Jan. 9 priced from $31.53 to $36.89 each, according to a schedule 13D filing with the Securities and Exchange Commission.

The investors beneficially own 2,046,400 shares of Panera's outstanding stock.

In a prior SEC filing, Shamrock urged Panera to declassify its staggered board, expand the board to include new members with relevant experience and separate the chairman and chief executive officer roles.

Panera, based in Richmond Heights, Mo., franchises bakery-cafes.

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