The book is timely because it looks at the history
of activist investors who we note below are currently the toast of the hedge fund crowd.
P&G is in the crosshairs
of activist investor Nelson Peltz's Trian Fund Management, which — with its roughly $ 3 billion stake in the consumer goods giant — is waging the biggest proxy fight in history for a seat on its board.
One new factor leading to more REIT purchases is the rise
of activist investors such as Jonathan Litt, co-founder of Land & Buildings Investment Management.
In support of this argument I cite the recent
experiences of activist investors in Japan, and Bildersee, Cheh and Zutshi's The performance of Japanese common stocks in relation to -LSB-...]
With a market value of $ 155 million and more than $ 100 million of net cash, the shares could attract the
attention of activist investors familiar with the biopharma industry.
There's two catalysts in play here: The first catalyst is the presence of a veritable orgy
of activist investors on the register.
A little more than two years later, at the
encouragement of activist investor Bill Ackman, Harrison came out of retirement to become president and CEO of Canadian Pacific Railway (CP).
One of Adamczyk's first big tests will be his
handling of activist investor Dan Loeb's proposal that Honeywell spin off its aerospace unit, where margins have risen, but sales growth has lagged.
Mackey & Panera co-CEO Ron Shaich: Recall that Shaich joined Whole Foods» board as
part of activist investor Jana Partners» shake - up.
The company has been a
fancy of activist investors such as Pershing Square's William Ackman, who sold the stake after spending 18 months trying to repair the company and suffering more than $ 3 billion in losses.
Pandora has been urged to explore a sale by Corvex Management LP, a hedge fund run by Keith Meister, a
protégé of activist investor Carl Icahn, after it disclosed a 9.9 percent stake in Pandora in May.
So increasing focus on shareholder - friendly corporate governance, the rising
clout of activist investors and the robust market for corporate control are all manifestations of the fact that shareholders want big companies to give them back their cash, and that companies are increasingly willing to do so.
A fall in shares in Sage Group PLC was also dragging on the FTSE 100 index, but a surge for Costa Coffee parent Whitbread PLC on
news of an activist investor stake helped limit the drop.
He and other analysts said Icahn's gambit may enrich investors by pushing up the share price, but the ultimate
goal of activist investors is to make money for themselves.
While it's unlikely the North Korean leader wants to become a new
kind of activist investor — despite the generous compensation — the hacking of Sony reignites the issue of whether the Japanese conglomerate should spin off its entertainment unit as Loeb's Third Point suggested.
The Texas Act would also apply to any proxy advisory firm that «publishes or otherwise provides an analysis or a recommendation to one or more shareholders» of a Texas - based public company concerning a nomination to the board or a shareholder
proposal of an activist investor.
Moreover, the same extensive disclosure requirements apply to all beneficial
owners of the activist investor «until the last person named is a natural person», creating a massive headache for any fiduciary and privacy issues for savers.
«It's giving people confidence that despite the
scrutiny of activist investors, companies can really add value through M. & A.,» Mr. Carr of Goldman said.
Three years after the old Kraft Foods split in half with the
backing of activist investors, one of the activists is suggesting those businesses ought to reunite.
Aetna published its 2011 «Political Contributions and Related Activity Report» on Aug. 24, which included money for politicians and various groups, though a
group of activist investors said the report didn't include all of Aetna's political payments.
As comptroller he could play the
role of activist investor while managing the city's almost $ 140 billion in pension funds, pressure money managers to accept reforms if they want to do business with New York and audit city agencies» various dealings with financial companies and make headlines if he thinks the taxpayer is getting a raw deal.
You may also know Toby's work at his blog Greenbackd.The book is timely because it looks at the
history of activist investors who we note below are -LSB-...]
In an article on his Breakout Performance blog, Activist Investors Sidelined by Brutal Market, Dr. Eric Jackson gives some advice to the next
generation of activist investors.
Spin offs are a
favorite of activist investors seeking to create a catalyst to push stock prices higher, and companies that want to streamline operations and focus on a single good or service.
I do keep monitoring listed companies with German property exposure, but mainly I focus on Sirius Real Estate (SRE: LN) as it continues to offer the best combination of risk & reward, in my opinion, together with a
bevy of activist investors as a potential catalyst.
And poor RoEs, management neglect of shareholder value, and the
absence of activist investors meant prices weren't actually that cheap, and there was little chance of value realization anyway.
This is particularly
true of activist investors / hedge funds: How often have you dug into a stock an activist's just revealed a stake in, to give up on it... mystified why they bought into such an expensive stock?
News of the review also came following the
urging of activist investor Jonathan Litt, of Land & Buildings Investment Management LLC, who in April wrote that the sale of Forest City would attract the interest of many entities.
Our investment thesis highlighted: 1) a negative divergence between GAAP and economic profits; 2) slowing organic growth; 3) high profit growth expectations embedded in the stock price; and 4) the unlikely sale of the company despite the
presence of an activist investor.
«The biggest catalyst for revived activity is today's new
breed of activist investor» - Mike Kirby, chairman of Green Street Advisors.