Spinoff Monitor

Axar Capital Files 13D on StoneMor $STON

wprss — Sat, 17 Mar 2018 04:23:31 +0000

Axar Capital filed a 13d on StoneMor Partners (STON). From the filing: The Reporting Persons originally acquired the Common Units for investment in the ordinary course of business because they believed that the Common Units, when purchased, were undervalued and represented an attractive investment opportunity. The Reporting Persons intend to actively pursue discussions with the ...

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Activist investor TCI pushes for sale of legacy Yahoo $AABA assets

wprss — Sat, 17 Mar 2018 02:30:54 +0000

Thomas J. McInerney, CEO Altaba Inc. 15 March 2018 Dear Tom, As you know TCI is the largest shareholder of Altaba owning close to 10% of the company. We have very much appreciated your efforts to create shareholder value. We fully agree with your explicit goal of narrowing the wide discount to net asset value ...

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Bemis $BMS Announces Agreement with Starboard Value LP

wprss — Sat, 17 Mar 2018 02:24:21 +0000

Bemis Company, Inc. (NYSE: BMS) today announced that it has entered into an agreement with Starboard Value LP (“Starboard”), which currently owns approximately 3.3% of the Company’s outstanding shares, pursuant to which its Board of Directors has appointed Guillermo Novo, Marran H. Ogilvie, George W. Wurtz III, and Robert H. Yanker as new independent directors ...

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Icahn $IEP Reports 6.9% Stake in Newell Brands $NWL

wprss — Sat, 17 Mar 2018 02:22:03 +0000

In a regulatory filing, Carl Icahn (IEP) disclosed a 6.86% stake in Newell Brands (NWL). Icahn said his firm acquired its positions in the shares in the belief that the shares were undervalued. Icahn added that his firm has met with representatives of the company’s management and intends to engage in talks with representatives of ...

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Helios and Matheson $HMNY to Spinoff Zone Technologies Subsidary

wprss — Fri, 16 Mar 2018 02:59:22 +0000

Helios and Matheson Analytics Inc. (Nasdaq: HMNY), a provider of information technology services and solutions and owner of a controlling interest in MoviePass, Inc.. (“MoviePass”) today announced that its board of directors has approved a plan to spin-off its wholly-owned subsidiary, Zone Technologies Inc. (“Zone”). Following the spin-off, Zone would become an independent publicly traded ...

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[3/8/18] Akamai $AKAM Announces Collaboration With Elliot Mgmt on LT Goals

wprss — Fri, 16 Mar 2018 02:52:10 +0000

Akamai Technologies, Inc. (NASDAQ: AKAM), the world’s largest and most trusted cloud delivery platform, today announced value creation initiatives to drive operating improvement, while continuing the Company’s focus on operational excellence and growth. Akamai has worked collaboratively with Elliott Management on these initiatives, which include the addition of two independent directors, Tom Killalea and a ...

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Rebuffed Amber Road $AMBR Acquirer E2Open Sends Follow Up Letter

wprss — Fri, 16 Mar 2018 02:17:35 +0000

The supply chain software provider E2open on Thursday publicly chastised the global trade management solutions company Amber Road for waving off its $350 million acquisition offer in February. E2open CEO Michael Farlekas sent a letter to Amber Road’s board of directors Wednesday, outlining his company’s inability to “establish a substantive dialogue” with the Amber Road’s ...

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Altai Capital Files 13D on Amber Road $AMBR Which Turned Down Buyout Last Month

wprss — Fri, 16 Mar 2018 02:15:08 +0000

The Reporting Persons acquired the Common Stock to which this Schedule 13D relates for investment purposes in the ordinary course of business. The Reporting Persons acquired the Common Stock because they believed that the Common Stock reported herein, when purchased, represented an attractive investment opportunity. The Reporting Persons and their representatives have, from time to ...

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iHeartMedia $IHRT Files for Bankruptcy

wprss — Fri, 16 Mar 2018 02:11:41 +0000

iHeartMedia, Inc. (PINK: IHRT) today announced that it has reached an agreement in principle with holders of more than $10 billion of its outstanding debt and its financial sponsors. The agreement reflects widespread support across the capital structure for a comprehensive balance sheet restructuring that will reduce iHeartMedia’s debt by more than $10 billion. iHeartMedia, ...

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Icahn’s Activist Letter to Xerox $XRX Shareholders

wprss — Fri, 16 Mar 2018 02:07:58 +0000

Today Carl Icahn released the following open letter to shareholders of Xerox Corporation (NYSE: XRX) Fellow Shareholders: I am pleased to announce that we have engaged John Visentin as a consultant both in connection with the upcoming proxy contests and to explore strategic alternatives for Xerox on our behalf. John is a highly-in-demand operating executive ...

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