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Money managers collaborate with activists to deal with failing firms

Change in dynamics is upending relations between public companies and their investors

Whole Foods was once the vanguard of the natural and organic food movement but is now facing competition from other big-name grocers.

New York

AS A steward of pension funds and retirement accounts, Neuberger Berman has traditionally employed a staid strategy familiar among big Wall Street money managers: Buy and hold stocks, sit back and hope for the best.

But recently, the firm eschewed its nearly 80-year-old...

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