Ryan Cohen's RC Ventures LLC, which owns nearly 10% of Bed Bath & Beyond , has hired a proxy solicitor, signalling the firm is ramping up for a potential proxy fight at the housewares retailer, two sources said.
A customer leaves a Bed Bath & Beyond store in Novi, Michigan, U.S., January 29, 2021. REUTERS/Emily ElconinBOSTON, March 10 - Ryan Cohen's RC Ventures LLC, which owns nearly 10% of Bed Bath & Beyond
RC Ventures has retained Harkins Kovler, the solicitor frequently used by prominent activist investor Carl Icahn in his corporate battles, said the sources, who are not permitted to discuss the private matter publicly. Hiring one signals that Cohen is taking the next steps to prepare for a potential fight with Bed Bath & Beyond., disclosed his stake in Bed Bath & Beyond in a letter in which he urged the company to narrow its focus on operational and inventory improvements.
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