Activist investor Engine Capital has taken about a 1% stake in Lyft (LYFT) worth about $50M, a person familiar with the matter told Bloomberg’s Crystal Tse. The investor is pushing for a strategic review of the ride-hailing app and has been engaging with Lyft management in recent weeks to express concerns about the company’s stock price, strategic positioning and corporate governance, Bloomberg added. Engine Capital wants Lyft to announce a strategic review, improve capital allocations and eliminate its dual-class share structure, the report noted.
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