Bloomin' Brands says activist investor Jana Partners to nominate board members

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Bloomin' Brands Inc. disclosed Monday that activist investment manager Jana Partners LLC plans to nominate two people to the restaurant chain's board of directors, and possibly three. Jana also disclosed that it owns 6.4 million Bloomin' shares, or 7.4% of the shares outstanding, enough to make Jana the third largest shareholder. Jana said the two nominees will be Scott Ostfeld and John Paul Gainor, Jr.; Jana disclosed that Gainor owns 12,000 Bloomin' shares, or less than 0.1% of the shares outstanding. Bloomin's restaurant chains include Outback Steakhouse, Carrabba's Italian Grill and Bonefish Grill. Bloomin's stock, which was still inactive in premarket trading, has gained 3.3% over the past three months, while the S&P 500 has advanced 5.2%.