News

July 29, 2014
Articles

The results aren’t in yet for the board election at Cliffs Natural Resources, the mining company. But the activist hedge fund seeking control of the board is feeling confident enough to declare victory anyway. The fund, Casablanca Capital, said on Tuesday that all six of its director nominees prevailed at the company’s annual meeting. Its […]

June 26, 2014
Articles

Activist hedge funds have been around for about a decade and their modis operandi has not changed dramatically in that time: buy a significant stake in a company, agitate for change, realize profits, repeat. What has changed is the number of such investors: according to data provider Preqin, there are now over 400 activist hedge […]

June 9, 2014
Articles

An activist investor’s efforts to oust the board of ValueVision Media — the parent company of ShopHQ, an also-ran among home-shopping networks — has won overwhelming support from the two leading proxy-advisory firms. Glass Lewis, in a report released over the weekend, followed ISS in calling for a major overhaul of the board of ValueVision. […]

May 2, 2014
Articles

Hedge fund proxy advisor Okapi Partners has named Jon Einsidler as a managing director. Einsidler has been engaged in investor response campaigns and proxy solicitation work for over 20 years, most recently as a senior managing director with Georgeson, where he spent 14 years. Prior to that, he spent three years as a partner with […]

April 24, 2014
Articles

The water is getting hotter for the parent of Red Lobster. An activist hedge fund has secured votes from 54 percent of Darden Restaurants’ shareholders to hold a special meeting to block plans to spin off Red Lobster into a separate company, sources said. Starboard Value LP, the New York-based fund spearheading the campaign against the […]

April 22, 2014
Articles

William Ackman’s $47 billion joint bid with Valeant Pharmaceuticals International Inc to buy Botox maker Allergan Inc may become a model for future deals, rival fund managers said. The unsolicited bid, the plans for which were revealed late on Monday, was unusual for a so-called activist investor such as Ackman. Usually, large acquisitions are the […]

April 21, 2014
Articles

To help influence the outcome of that bet, Mr. Ackman has lobbied members of Congress and regulators to investigate the company, a move that has helped to push down the value of the stock. “What’s unusual is that we’re talking about investors who are outsiders — the outsiders are potentially becoming insiders here by teaming […]

April 11, 2014
Articles

Proxy solicitors said Mr Icahn appeared to have little chance of winning over eBay’s wider investor base, since the company has good relationships with many of its institutional shareholders. “The settlement works for both sides as it allows the company to avoid the additional expense and distraction of a proxy fight while retaining the optionality […]

March 21, 2014
Articles

Activist campaigns involve a lot of strategy — legal, financial and investor relations — and the rise in funds dedicated to this kind of value enhancement (from the funds’ perspective) or disruption (from the corporate perspective) also means greater need for advisers practiced in the activism playbook. The Deal spoke to some of the best-known […]

March 21, 2014
Articles

Engaged Capital LLC has tapped proxy solicitation firm Okapi Partners LLC and a leading independent global professional services firm, as the activist investor fights for five seats on Abercrombie & Fitch Co.’s (ANF) board. Though Engaged Capital didn’t name the global professional services firm, it said on Thursday that the firm has decades of experience […]