Why Aramark Stock Popped Today
Shares of the hospitality specialist spiked after an activist investor pounced on the stock.
Aug 19, 2019 at 12:16PM The Motley Fool
What happened
Shares of Aramark (NYSE:ARMK) were moving higher after an activist investor took a stake in the food-service giant. The stock was up 9.5% as of 11:18 a.m. EDT.
So what
Aramark, best known for providing food service at institutions like prisons and universities, has been a historically sleepy stock, but shares awoke from their slumber today after activist investor Mantle Ridge revealed a 20% stake in the company, worth about $1.8 billion. Paul Hilal, who runs the fund, said he aimed to discuss strategic direction, governance, and the makeup of the board of directors and management team, among other issues. ・・・
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Why Aramark Stock Popped Today
Shares of the hospitality specialist spiked after an activist investor pounced on the stock.
Aug 19, 2019 at 12:16PM The Motley Fool
What happened
Shares of Aramark (NYSE:ARMK) were moving higher after an activist investor took a stake in the food-service giant. The stock was up 9.5% as of 11:18 a.m. EDT.
So what
Aramark, best known for providing food service at institutions like prisons and universities, has been a historically sleepy stock, but shares awoke from their slumber today after activist investor Mantle Ridge revealed a 20% stake in the company, worth about $1.8 billion. Paul Hilal, who runs the fund, said he aimed to discuss strategic direction, governance, and the makeup of the board of directors and management team, among other issues. ・・・