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UPDATE 1-Jana Partners takes stake in ConAgra, ready to nominate directors

2015-06-19 07:52:54| Agriculture - Topix.net

Activist hedge fund Jana Partners LLC took a stake in ConAgra Foods Inc and said it was prepared to nominate directors to the company's board to help address "persistent underperformance" since the acquisition of RalCorp in 2013. Jana Partners, whose 7.2 percent stake makes it the second-largest shareholder in the Slim Jim Beef Jerky maker, said the company's shares were undervalued.

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