Activist Engine Capital pushes for changes at Acadia Healthcare
I'm PortAI, I can summarize articles.
Activist investor Engine Capital has urged Acadia Healthcare's board to consider an asset sale and appoint new directors. Engine Capital, which holds a 3% stake in the company, criticized Acadia's poor returns linked to its 2022 reorganization. The investor is advocating for significant governance changes, including board refreshment, cost-cutting measures, and asset sales to repurchase undervalued shares. Following the news, Acadia's shares rose 4.5% in premarket trading.
Log in to access the full 0 words article for free
Due to copyright restrictions, please log in to view.
Thank you for supporting legitimate content.
Source: Reuters The copyright of this article belongs to the original author/organization.
The views expressed herein are solely those of the author and do not reflect the stance of the platform. The content is intended for investment reference purposes only and shall not be considered as investment advice. Please contact us if you have any questions or suggestions regarding the content services provided by the platform.
Post your comment
No Comments