1. Jana Partners Takes Stake in Macy’s, Urges Spin Off of E-Commerce Business

    Jana Partners Takes Stake in Macy’s, Urges Spin Off of E-Commerce Business

    An activist shareholder has taken a stake in Macy’s Inc. and is urging the famed retailer to spin off its fast-growing e-commerce business, according to people familiar with the matter. Jana Partners LLC on Wednesday sent a letter to the company’s board prodding it to separate the online unit, which has about $8 billion in annual revenue, the people said...

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