COLUMBUS — Last week, Bob Evans Farms announced it had declined to make changes recommended by one of its biggest investors. Now that investor, the hedge fund Sandell Asset Management, is turning up the heat on the restaurant operator.
Sandell said Monday it will move for change at Bob Evans, potentially including replacing its directors.
The hedge fund began a so-called consent solicitation, which will let investors vote on changes at Bob Evans outside an annual meeting. Sandell owns about 6.5 percent of Bob Evans stock, making it the second-largest shareholder.