Barington Capital takes Bath and Body Works stake
Activist investor Barington Capital has acquired a stake in Bath and Body Works and is pushing the retailer to explore a sale. The firm cites an undervalued stock and unstable management as reasons for a potential buyout by private equity or other buyers.
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BATH & BODY WORKS INC shares rose 2% in extended trading on Thursday evening after Barington Capital Group took a stake and pushed the personal care brand to explore a sale. The activist firm holds 0.78 million shares, representing a 0.38% stake in the United States company. Bath & Body Works stock has fallen 13% over the year.
