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Bed Bath & Beyond Inc. (NASDAQ:BBBY) shares are trading higher after the company reported a cooperation agreement with Ryan Cohen's RC Ventures.
Ryan Cohen and RC Ventures LLC are the beneficial owners of approximately 9.8% of the company's outstanding shares.
In conjunction with the cooperation agreement, Bed Bath & Beyond today announced that Ms. Bowen and Mr. Rosenzweig, will join a four-member Strategy Committee focused on exploring alternatives to unlock greater value from the company's buybuy BABY banner.
"The resolution announced today represents a positive outcome for all of Bed Bath's shareholders. By refreshing the Board with shareholder-designated individuals who possess capital markets acumen and transaction experience, the company is well-positioned to review alternatives for buybuy BABY," said Chewy, Inc. (NYSE:CHWY) Founder, GameStop Corp. (NYSE:GME) Chairman Ryan Cohen.
Bed Bath & Beyond is a home furnishings retailer, operating just under 1,000 stores in all 50 states, Puerto Rico, Canada, and Mexico.
Bed Bath & Beyond's stock was trading about 9.5% higher at $24.20 per share on Friday at the time of publication. The stock has a 52-week high of $44.51 and a 52-week low of $12.39.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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