![]() ![]() Alexander's last year, when the activist investor pushed for a takeover of the dining chain. This agreement is a far cry from the heated back-and-forth between Ancora and J. The investor is also critical of August 2017 efforts to merge with Fidelity National Financials' Ninety Nine Restaurants due to several conflicts of interest with board members being on both sides of transaction. The activist investor also claims that when it agreed to a spinoff deal with Fidelity National Financial, which included the hiring of a management consulting firm, this led to reduced value for shareholders. Alexander's wound up in distress after returning to public markets in September 2015. With 1.3 million shares already in Ancora's pocket, it offered to buy the Nashville chain for $186 million. ![]() Activist investor Ancora Advisors has launched a takeover bid for contemporary wood-fired cuisine restaurant J.The board called the offer "unattractive to entertain" and that considering it would be inconsistent with the company's fiduciary duties to its shareholders. Alexander's board of directors rejected Ancora's proposal in a letter saying that the investor is trying to acquire control of the company at a bargain price. “We believe insight will be an asset as we move forward with the company’s previously announced review of strategic alternatives, which we plan to continue once the COVID-19-related uncertainties in the business community, the restaurant industry and the financial markets are resolved and the company’s performance has returned to levels which will support an attractive valuation," Lonnie Stout II, executive chairman at J. He is a member at the business advisory and advocacy law firm McDonald's Hopkins where he also serves on the board and is corporate council for various middle-market and growth companies. Alexander's board as part of a cooperative agreement with the investor, according to a press release. The decision brings the restaurant's board to seven members. Grassi will also be included in the company's slate of director nominees for its 2020 Annual Meeting for a three-year term. UPDATE: April 21, 2020: Ancora Advisors advisory board member Carl Grassi has taken a seat on J.
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