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The move would come shortly after activist hedge fund Jana Partners took a 1.3 million share stake in Jack in the Box, the parent company of Qdoba, a chain of fast casual restaurants.
If a deal materializes, it would be another big score for Jana this year. The hedge fund earlier took a big stake in the grocery chain Whole Foods and pushed it to consider a sale. Jana cashed out of that 8.2 percent stake in July for $300 million after Whole Foods agreed to be acquired by Amazon.com.