Jana Partners, the aggressive investor, stated on Friday that it has increased its shareholding in Lamb Weston (LW.US), a company that sells french fries to fast food chains such as mcdonald's, by 5% to explore strategic alternatives, resulting in a 10% increase in the company's stock price on Friday.

Jana Partners believes that Lamb Weston's stocks are undervalued and has pointed out that company mistakes have led to poor performance. They have reviewed strategy choices, board composition, and management changes, emphasizing a series of issues to be discussed with the board, including share buyback, management compensation, capital expenditures, and potato procurement.

Documents show that Jana has purchased over 7.1 million shares of Lamb Weston stocks at a price of approximately 0.336 billion dollars.