On April 17, 2024, Engine Capital LP announced that it has issued a letter to members of Parkland Corporation?s Board of Directors. Engine Capital added that it views board should commit to running a comprehensive review of strategic alternatives following several years of share price underperformance, inefficient operations and suboptimal capital allocation. Engine Capital stated that it estimates a sale to a strategic acquirer would yield approximately $64 per share for shareholders, likely representing the best risk-adjusted path forward.
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- Engine Capital Issues a Letter to Parkland Corporation?s Board of Directors