Starboard Value LP, which holds about 4.4 percent of the operator of hair salons, said the Edina, Minn., company is undervalued because of its high operating costs. Regis said it is “always open to ideas that can create shareholder value, and has been in private discussions with Starboard.’’ Regis’s brands include Supercuts, Hair Club for Men and Women, and Cost Cutters.
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