Lamb Weston rises after deal with Jana, Continental over board seats
ReutersJun 30, 2025 1:46 PM
Shares of frozen potato products firm Lamb Weston LW.N rise as much as 2.9% to $54.97 in early trade
Lamb Weston enters into deal with shareholders Jana Partners and Continental Grain Company
To appoint six new members to company's board, including Bradley Alford, who will serve as chairman
Jana was lining up support for a possible boardroom battle, after a survey showed roughly half of LW's top 50 shareholders wanted the entire board thrown out, according to a letter seen by Reuters earlier this month
Board will increase to 13 directors from 11; changes to take place no later than on or about July 11 - co says
Up to last close, LW has fallen 20% YTD
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