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Olshan Clients Ancora Advisors and Macellum Advisors Enter into Cooperation Agreement with Big Lots

April 23, 2020

Yahoo Finance reported on the recent cooperation agreement entered into by Olshan clients Ancora Advisors and Macellum Advisors with Big Lots. As part of the agreement, Andrew C. Clarke and Aaron Goldstein have been appointed to the company's Board of Directors effective immediately and the Board will also nominate Thomas A. Kingsbury to stand for election as a new independent director at the company's 2020 Annual Meeting of Shareholders. Messrs. Clarke and Goldstein have also been appointed to serve on a newly formed capital allocation committee of the Board.  The Investor Group previously nominated a full slate of directors. Steve Wolosky and Elizabeth Gonzalez-Sussman represented the Investor Group in connection with their engagement and the negotiation of the cooperation agreement with Big Lots.

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