Glenn welling engages in discussions with medifast

On november 18, 2019, glenn welling announced that he and his fund engaged capital llc, have taken a 15% stake in medifast, inc. glenn welling stated that he could propose changes to company’s capital allocation strategy, capitalization, ownership structure and board structure and he could talk to potential acquirers and propose a sale of the company. the engaged capital funds purchased the shares on the belief that the company’s stock is undervalued and represents an attractive investment opportunity, according to the filing and welling has already been talking to the company’s board and management team regarding ‘opportunities to maximize shareholder value.’
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