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Article: Will Burkle Sow Sale Oats at Wild Oats?(Ronald Burkle)(Wild Oats Markets Inc.)
- Article from:
- Mergers & Acquisitions Report
- Article date:
- April 11, 2005
- Author:
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In spite of a recent large investment by billionaire Ronald Burkle, it's not a sure bet $290 million market cap Wild Oats Inc. (WOI) will find a buyer.
Burkle's reputation is one that attracts short-term in-vestors. He is known more for buying and selling chains than for running retail businesses long term. Also, WOI Chief Executive Officer Perry Odak, who was CEO of Ben & Jerry's Homemade Inc. when it sold to Unilever NV in 2001, is set to get a huge payout if WOI sold for at least $20 per share in the next year.
According to the company's proxy, Odak receives $9.2 million as part a five-year employment agreement, which expires in March 2006, if there ...