Hedge fund K Capital has announced it may sell some of its 8.4 per cent stake in OfficeMax.
K Capital, which said it does not intend to initiate a proxy fight to change the directors at the company, has claimed the retailer’s stock is undervalued and that a break-up or sale of the business may be in shareholders’ best interest.
However, the Boston-based fund said that it expects to maintain a "significant investment" in the company.
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