Bloomberg News

Redbox Owner Outerwall Surges as Jana Partners Seeks Shakeup

October 04, 2013

Outerwall Inc. (OUTR:US), operator of the Redbox DVD kiosks, surged in extended trading after Jana Partners disclosed a 14 percent stake and said it will press for changes at the company.

The shares jumped 3.8 percent to $59.25 in extended trading. They gained 9.4 percent to $57.10 at the close in New York after Dow Jones reported the holding. Jana is seeking a strategic review, according to a regulatory filing today. The company paid about $204.9 million for its shares.

To contact the reporter on this story: Cliff Edwards in San Francisco at cedwards28@bloomberg.net

To contact the editor responsible for this story: Anthony Palazzo at apalazzo@bloomberg.net


Ebola Rising
LIMITED-TIME OFFER SUBSCRIBE NOW

Companies Mentioned

  • OUTR
    (Outerwall Inc)
    • $56.1 USD
    • 0.10
    • 0.18%
Market data is delayed at least 15 minutes.
 
blog comments powered by Disqus