Jana Partners Gets Two Seats On Walgreen’s Board

The nation’s largest pharmacy chain Walgreen Company (NYSE:WAG) said Monday it is giving activist investor Jana Partners LLC two board seats, despite the hedge fund only owning a relatively small 1% stake in the company. Walgreen’s board seat a big win for Jana Partners The hedge fund Jana Partners LLC holds about a 1.3% stake in Walgreen Company (NYSE:WAG), or 12.5 million shares. As part of the agreement, Jana’s founder Rosenstein will resign from the pharmacy chain’s board if that falls below about 6.3 million shares. Jana also agreed to not increase its stake to more than 4.9% of the firm’s…