1. Potbelly's Chances of a Sale Increase as Activist Hovers

    Potbelly's Chances of a Sale Increase as Activist Hovers

    With small restaurant M&A swirling about and an activist investor hovering, it may not be long before Sandwich chain PotBelly Corp. ( PBPB ) finds itself on the block. Cleveland-based activist investor Ancora Advisors LLC on June 22 sent a letter to Potbelly urging the sandwich maker to "immediately" change its strategy or explore the sale of the company. Ancora Advisors outlined steps it wants Potbelly to take to improve its share price, including franchising more of its restaurants...

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