Tag Archives: Activist Investor

Plenty Of Room On The Bandwagon As Starboard Takes A Big Stake In Elliott Associates Project Emulex Corp.

Starboard Value takes the Fantastic Voyage with Elliott Associates as it awaits Emulex Corporation’s sale. It is always heartwarming to see two of our favorite funds working together, sort of. Starboard Value disclosed a 6.9% stake in Emulex Corporation in … Continue reading

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Quality Systems Does Not Have Quality Leadership, Says Clinton Group As It Contests Director Election At Upcoming Meeting

Activist Investor Clinton Group files proxy statement for the election of its seven nominees to the Quality Systems Board of Directors. Quality Systems, Inc. is an IT company in the healthcare industry. According to activist investor Clinton Group, Quality Systems … Continue reading

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Emulex Climbing Back Up As We Lock It Back Down.

ELX up sharply on rumors it is considering a strategic transaction. After struggling this year, Emulex Corp. shares are up over 15% today, as of this writing.  There seem to be rumors that Emulex has hired bankers to pursue “strategic … Continue reading

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Corvex Management and Related Fund Management Declare Victory In Attempt To Oust The CommonWealth Directors.

We’ve covered the CommonWealth REIT saga with Corvex Management LP and Related Fund Management LLC, who are trying to oust the CommonWealth directors. The funds, who together own about 9.6% of CommonWealth, announced that they delivered consents from holders of … Continue reading

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CommonWealth REIT: Marcato Joins Fight With Corvex and Related Fund Over Consent Solicitation At CommonWealth.

Getting the band back together. Last we saw Marcato Capital Management, they had teamed up with Corvex Management to reign down some REIT reorg on Corrections Corporation of America (CXW). Last we saw Corvex Management, they had teamed up with … Continue reading

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Relational Investors Gets Results: Timken Hires Goldman Sachs To Review Whether Timken Should Break Off Business Units

Breaking up is hard to do, but Timken will take a look anyway. We have followed the saga of Relational Investors’ and CalSTRS’ attempt to get Timken Co. to separate its steel and ball bearing businesses. There are now reports … Continue reading

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Let’s Get it Started! sTec Files Proxy Statement For Its Upcoming Contested Election, Nominating Director In Litigation With SEC Over Insider Trading Allegations.

sTec believes a small thing like an SEC insider trading action against its founder/incumbent director/former CEO who resigned under a cloud of an SEC investigation and litigation shouldn’t cause shareholder’s to deviate from its path. sTec filed its proxy statement for … Continue reading

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CommonWealth REIT to Shareholders: We’ve Considered Your Thoughts On The Matter Of Our Board Of Trustees. Please Note Our Middle Finger.

Shareholders vote against election of trustee, so CommonWealth board members appoint him to fill his own vacancy caused by his own resignation triggered by his own electoral smackdown at the hands of the shareholders. At the annual meeting of the … Continue reading

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Elliott Turns Its Attention To NetApp

Hot off of its victory with Hess, Elliott Associates turns its focus to NetApp. Elliott Management has reportedly acquired a significant stake in NetApp Inc. (NTAP) and will press the company to change its board and boost shareholder value.  NetApp … Continue reading

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Transocean Has Nothing Good To Say About Icahn Nominees

Transocean explodes with a gusher of crude quotes in a press release responding to ISS’ assessment of Carl Icahn’s nominees. Carl Icahn is looking for some representation on the board of directors of Transocean Ltd. (NYSE: RIG), and ISS agrees … Continue reading

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