Deals
Tea Maker Hain Climbs After Activist Engaged Discloses Stake
- Activist investor proposes seven nominees for Hain board
- Engaged says may suggest company pursue whole, partial sale
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Activist investor Engaged Capital disclosed a 9.9 percent stake in Hain Celestial Inc. and is pushing for sweeping board changes and a potential sale of the natural and organic food company.
Shares in the maker of Celestial Seasonings teas and Terra chips rose 12 percent to $40.17 in early trading in New York Friday.