Marathon partners sends letter to the board of e.l.f. beauty

On december 3, 2019, marathon partners equity management, llc announced that it has delivered a letter to e.l.f. beauty, inc.'s board of directors recommending that the board seek a sale of the company through a strategic alternatives process. in the letter, marathon partners outlines its view that there is one solution to the company's languishing share price - the company needs to sell itself through a competitive auction process. marathon partners shared its view that an announced strategic alternative process would inject needed discipline into the board's deliberations and provide benchmark values to critically evaluate against management’s current standalone plan.
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