SunOpta hires advisers after shareholder urges sale of company

Mon Jun 27, 2016 9:17am EDT
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June 27 (Reuters) - Canada's SunOpta Inc, which is under pressure from hedge fund Tourbillon Capital Partners LP to sell itself, said it hired financial and legal advisers to explore strategic alternatives.

The strategic review follows talks with large shareholders, who concluded that "now is not the right time to commence an outright sale of the company," the organic food company said in a statement on Monday.

SunOpta's board hired Rothschild Inc as the financial adviser and Davies Ward Phillips & Vineberg LLP as the legal adviser. (Reporting by Arathy S Nair in Bengaluru; Editing by Kirti Pandey)