Investor Group Responds to Sale/Leaseback Transaction Announced by Big Lots
Big Lots, Inc. (BIG)
Last big lots, inc. earnings: 2/27 04:05 pm
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US:NYSE Investor Relations:
biglots.com/corporate/investors
Company Research
Source: PR Newswire
NEW YORK, April 9, 2020 /PRNewswire/ -- Macellum Advisors GP, LLC (together with its affiliates, "Macellum") and Ancora Advisors, LLC (together with its affiliates, "Ancora" and, together with Macellum, the "Investor Group"), who own in the aggregate approximately 11.5% of the outstanding shares of Big Lots, Inc. ("Big Lots" or the "Company")(NYSE:BIG), today issued the following statement in response to the announcement made yesterday by the Company that it had entered into sale and leaseback agreements with affiliates of Oak Street Real Estate Capital, LLC ("Oak Street") relating to the Company's distribution centers in Columbus, OH, Durant, OK, Montgomery, AL, and Tremont, PA. "While we are pleased to see the Company signed agreements with Oak Street to complete a sale leaseback transaction for four of its owned distribution centers for an aggregate purchase price of $725 million, the Investor Group is highly skeptical that the Company's Board of Directors (the "Board") would have
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