Outerwall Has Another Activist
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Outerwall has another activist, just a couple years after JANA Partners took on the company - where the activist hedge fund pushed for a buyout. The RedBox and Coinstar company is getting new pressure from Engaged Capital - which owns 14.1%. The thesis? To get the company sold to private equity.
Outerwall has already rejected three buyout offers in the last two years. Engaged also wants higher dividends and cost cuts - which includes shutting down the ecoATM kiosks.