Gadfly's Tara Lachapelle noted that the sale of Bob Evans' restaurant chain follows an activist campaign by Sandell Asset Management, which has been pushing the company to rid its namesake restaurant chain so it can focus exclusively on its more lucrative packaged-food business.
Bob Evans Restaurants is selling its restaurant business.
"The board of directors has consistently evaluated all options for creating shareholder value", said Doug Benham, executive chairman of Bob Evans Farms. But BEF Foods is growing, while sales at the restaurants are shrinking, a trend that has hurt many casual-dining operators. "The new Bob Evans, further strengthened by the manufacturing and intellectual capital of (Pineland Farms Potato Co.), is positioned to be a higher profit and higher growth company that is expected to provide better returns to shareholders and an enhanced product line for customers".
Golden Gate Capital has multiple investments in the food industry, including Red Lobster and On the Border Mexican Grill & Cantina.
"The steps we took today are the transformation of Bob Evans", said CEO Saed Mohseni in an interview.
The split was announced after the market close. Wall Street is expecting earnings per share of $2.26 for the year.
As recently as August, Sandell was jumping on Bob Evans earnings calls to continue to press his case.
At the time, Sandell compared Bob Evans to Cracker Barrel Country Store, arguing investors place a premium on packaged foods businesses, particularly those with a strong brand.
While shares of Bob Evans are up in Wednesday trading activity, they are still well short of Sandell's original $84 per share vision. This will result in the special dividend being $7.50 per share.
The clash at Stamford Bridge also saw the midfielder Ryan Mason suffer a skull fracture following a collision with Gary Cahill. De Gea has been committed to the club and has not dipped in form, as he works towards long-term goals with Mourinho in charge.
China is a key driver of the global economy and a growth slowdown is a major concern for investors around the world. The Communist Party's China Daily says Beijing should "take off the gloves" in the face of Trump's provocations.
"The Department of Defense is not coordinating airstrikes with the Russian military in Syria", Rankine-Galloway said. Moscow supports Syrian President Bashar Assad in the country's almost 6-year-old civil war.
Andhra Pradesh Chief Minister Chandrababu Naidu announced Rs 5 lakh compensation for the family of the victims of the accident. Prime Minister Narendra Modi also condoled the loss of lives in the accident.
Supreme Court Justice Clarence Thomas, meanwhile, swore Mike Pence in as the new vice president of the United States. Pence was, however, busy hosting the Vice President-elect's Inaugural Dinner at the National Portrait Gallery.
Towns is now third in the National Basketball Association in double-doubles with 33 and is 18in scoring at 21.8 points per game. Joel Embiid and Karl-Anthony Towns are ready for their in-game, three-point shootout.
This augmented capability will be invaluable for forecasters, especially when tracking potentially risky storms. The first images from NOAA's next-generation weather satellite are in and they're absolutely stunning.
Prime Minister Viktor Orban said: "With my prayers, I am with the families and friends shocked by the tragedy". The teenagers all came from a secondary school in the Hungarian capital of Budapest, Szijjarto told reporters.
After a pause between storms, a second round of severe weather should be expected Saturday night into early Sunday morning. This wil renew the severe weather risks of individual tornado development and damaging wind gusts through Sunday morning.
Five finalists named in Google's $20 million Lunar X-Prize
Any GLXP team that fails to launch its space vehicle in time will automatically be considered out of the Google Lunar XPrize race. Five global teams have qualified as finalists in a race to the moon worth millions, the XPrize Foundation announced on Tuesday.