© Reuters
(Reuters) – Hedge funds Macellum Advisors and Ancora Advisors have lost their bid for board seats at supermarket operator SpartanNash Co (NASDAQ:), 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.
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