Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers P > Headlines for Panera Bread Co. > News item |
Shamrock cuts stake in Panera Bread to 3.25%
By Lisa Kerner
Charlotte, N.C., Aug. 19 - Shamrock Activist Value Fund, LP sold 405,662 shares of Panera Bread Co. class A common stock for a total of $21.39 million between July 22 and Aug. 18.
With the sale, Shamrock reduced its ownership of Panera Bread to 3.25% from the 4.98% reported in May.
The investors beneficially own 943,710 shares of the company, according to a schedule 13D filed with the Securities and Exchange Commission.
In January, Shamrock had sought to have representation on Panera Bread's board of directors.
Shamrock had urged Panera Bread to declassify its staggered board, expand the board to include new members with relevant experience and separate the chairman and chief executive officer roles, a prior SEC filing stated.
Panera Bread, based in Richmond Heights, Mo., franchises bakery-cafes.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.