UPDATE 1-J. Alexander's shareholder seeks annual meeting
July 5 (Reuters) - U.S. restaurant chain operator J. Alexander's Corp second-largest shareholder, Privet Fund LP, filed a complaint with the Tennessee Chancery court asking the company to hold its annual meeting of shareholders.
Hedge fund management firm Privet last month expressed its dissatisfaction over Fidelity National Financial Inc's offer to buy J. Alexander's for $12 per share in cash and stock, saying it undervalued the company.
Privet, which holds a 10 percent stake in J. Alexander's, filed the complaint on Monday.
The fund on Thursday said it planned to call a meeting to add two directors to J. Alexander's board if annual meeting was not held within 90 days.
Fidelity has offered J. Alexander's shareholders an all-cash option or a combination of $3 in cash and one share of Class A common stock of its restaurant operating unit American Blue Ribbon Holdings.
J Alexander's did not immediately respond to a request for comment.
- Mexican train derails, stranding 1,300 migrants headed toward U.S.
- Israeli strikes kill more Palestinians; rocket causes huge blaze in Israel |
- Four servicemen, five miners killed in eastern Ukraine |
- Obama tells Israel U.S. ready to help end hostilities
- Man charged with killing six members of same Texas family |