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Jana Partners LLC, an activist investment firm founded by hedge fund executive Barry Rosenstein, has taken a stake in Macy’s Inc. (NYSE: M) and has called on the company’s leadership to spin off its e-commerce operations. What Happened: The Wall Street Journal, citing unnamed “people familiar with the matter,” said Jana sent a letter to the company’s board calling on the department store chain to separate from its online unit, which generates approximately $8 billion in revenue.
...read full article on Benzinga
