By  on September 1, 2014

First it was just a letter. Now it’s a letter and an advertisement.

Ryan Drexler, president of Consac LLC, first reached out to Manny Mashouf, founder and non-executive chairman of Bebe Stores Inc., last month seeking a meeting. In his first foray as an activist investor, Drexler is seeking a sale of the company or for it to be taken private to maximize shareholder value.

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