This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Bob Evans Confirms Good Faith Request To Meet Sandell Nominees

NEW ALBANY, Ohio, May 30, 2014 (GLOBE NEWSWIRE) -- Bob Evans Farms, Inc. (Nasdaq:BOBE) today confirmed that it has reached out to the director nominees proposed by Sandell Asset Management, seeking to interview them in a good faith effort to consider their candidacies, as the Company committed to do when Mr. Sandell first proposed them. Consistent with the process taken to consider and evaluate all of its new director candidates, including the four new independent directors added to the Board in the prior two years, the Board's lead independent director and other independent members of the Board are seeking to meet Mr. Sandell's nominees. Invitations were sent to Mr. Sandell's nine nominees on the first business day following the close of the window for stockholder nominations for election to the Company's Board on May 25, 2014, and representatives of Mr. Sandell were copied on the invitations.

Contrary to the assertions by Mr. Sandell in his press release this morning, Bob Evans offered to settle the pending proxy fight in January, by offering Mr. Sandell the opportunity to consult with the Board in the identification and selection of new independent directors to be added to the Board. Mr. Sandell rejected that offer. Furthermore, since last July, the Company has repeatedly spoken with and sought to engage Mr. Sandell in a constructive dialogue. He and his staff have spoken at length with Bob Evans' Chief Executive Officer, Steven Davis, and other members of the senior management team, as well as with the Board's lead independent director, Michael Gasser, and the Board's independent financial advisors, Lazard. From the beginning, all of Mr. Sandell's proposals have been thoroughly reviewed by the Board with the assistance of its independent advisors. Additionally, Bob Evans remains actively engaged with shareholders through its investor outreach program, which includes investor conference participation, road shows, regular earnings conference calls and one-on-one follow-up calls.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,156.85 +24.88 0.15%
S&P 500 2,001.57 +2.59 0.13%
NASDAQ 4,562.1890 +9.43 0.21%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs