Bob Evans Investor Demands Files on Post’s $1.5 Billion Buyout

A Bob Evans Farms Inc. shareholder is demanding files about the chain’s $1.5 billion agreement to sell its packaged-food unit to Post Holdings Inc. so she can see whether payments to Evans officials tainted the deal.

Investor Tanya Knight alleged Bob Evans Farms CEO Mike Townsley backed the sale to Post, maker of Grape Nuts and Honey Bunches of Oats cereal, because he stands to get more than $10 million in the deal, according to a Delaware Chancery Court lawsuit filed Jan. 8.

Bob Evans Farms’ independent directors can expect an $80,000 bonus if the deal closes, which is more ...