(Reuters) – Hedge funds Macellum Advisors and Ancora Advisors have lost their bid for board seats at supermarket operator SpartanNash Co, according to two sources familiar with the matter.
The two hedge funds, which own 4.5% of the company, were trying to replace three of the company’s nine board members, arguing the company needed to improve its competitiveness and consider a full or partial sale.
Spokespeople for the hedge funds and the company did not immediately respond to requests for comments.
(Reporting by Svea Herbst-Bayliss; Writing by Paritosh Bansal)
