Kirkland's jumps after activist Osmium reveals stake, urges strategic review
28/05/2024 12:50
** Shares of Kirkland's Inc KIRK.O up 11.9% at $2.07,
about 1-mth high, after Osmium Partners called for home decor
retailer to explore strategic alternatives
** Late Fri, activist hedge fund Osmium disclosed 9.8%
stake, about 1.16 mln shares
** Also, in letter to KIRK, Osmium said as the largest
shareholder it believes firm's share price "trades at a material
discount to what a strategic buyer would pay for the company"
** "We believe now is the time to explore strategic
alternatives as the market is turning for the industry, and
suppliers of capital are coming out of hibernation," Osmium said
** Osmium added KIRK should hold an investor day before June
26, 2024
** KIRK's shares have shed nearly 40% over the past year and
are well off their April 2021 record intraday high of $34.45
(Lance Tupper is a Reuters market analyst. The views expressed
are his own)
((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))