Greenway Partners has urged Woolworth Corp. shareholders to oppose the retailer's plan to change its name to Venator at Thursday's annual meeting. In a specially composed sonnet, Greenway argued: ``O, What's the use of names like `Venator'? For most of us, we don't know what it means. A dinosaur? Perhaps a predator?''
Alfred Kingsley, senior managing director, said Greenway would prefer Woolworth retain its name or change it to Sports Authority, which it recently acquired, or to another name with a known identity.
Greenway, which owns 8 million Woolworth shares valued at $160 million, is also asking Woolworth to sell its German general merchandise business and use the proceeds for a stock buyback; and not to reinstate its poison pill without a shareholder vote.
