Tired of seeing a lackluster stock price, an aggravated shareholder group has launched a proxy contest against Tandycrafts Inc. and is pushing for the company to explore strategic alternatives, including a sale of the business. Steel Partners II LP, a 15% shareholder of the company, included a letter in its June 8 13D that voiced its concern about “the Board’s and management’s inability to create value for the shareholders as evidenced by the significant and persistent decline in the price of Tandycrafts’ stock.”
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