Akzo Nobel, the Dutch paint and chemicals company, said on Wednesday that it had reached a truce with Elliott Management, ending a dispute that had been the latest example of an activist investor looking to reshape a major business.
Aggressive, tenacious and litigious to a fault, Paul Singer may be the most feared activist investor in the world—by hedge fund rivals, companies and even countries. Singer’s Elliott Management Corp., which manages $34 billion of assets, has rarely been out of the headlines the past 18 months. And there’s little indication that will change soon. Singer has targeted the world’s biggest mining company, taken on Warren Buffett in a battle for Texas’s largest electricity distributor, ousted chief executive officers on both sides of the Atlantic and set off a chain of events that led to the impeachment of South Korea’s...
Activist investor Bill Ackman doesn’t take no, no and no way for answer. Despite getting a major league blow-off last week from payroll processor Automatic Data Processing, Ackman’s Pershing Square will seek three seats on the ADP board — including one for Ackman, the hedge fund said Monday in a regulatory filing.
Aggressive, tenacious and litigious to a fault, Paul Singer may be the most feared activist investor in the world—by hedge fund rivals, companies and even countries. Singer’s Elliott Management Corp., which manages $34 billion of assets, has rarely been out of the headlines the past 18 months. And there’s little indication that will change soon.
Part of Saks Fifth Avenue’s Manhattan flagship store could be turned into luxury condominiums if one activist investor has his way. Jonathan Litt, who runs the hedge fund Land and Buildings, wrote a letter to Canadian retail giant Hudson’s Bay Company’s board Monday urging it to consider new directors, taking the public company private and selling off its subsidiary Saks Fifth Avenue, Bloomberg reported. A Saks sale could also allow the company to turn the […]
<p>Of all the demands that activist hedge funds make, one has emerged as a clear favorite over the past year: asking the management of a company they target to put up the "for sale" sign.</p> <p>Heady valuations have made the windfall from a sale too hard to resist for dissident shareholders, turning what used to be a fall-back option in past campaigns into preferred strategy, and prompting a slew of takeovers in the process.</p>
Sandell Asset Management Corp., the sometimes-activist hedge fund, is urging Barnes & Noble Inc. to explore a sale amid a hostile environment for retailers. The New York-based hedge fund said it has built a “meaningful position” in Barnes & Noble, in a letter to the bookseller’s board on Tuesday. Sandell said the company should explore a sale, which could fetch more than $12 a share, or a 69 percent premium over where shares closed on Monday. “Stakeholders would be better served if Barnes & Noble were operated as a private company or as a division within a larger company, which...
Last year in March, Rolls-Royce Holdings plc installed a representative from San Francisco-based activist fund ValueAct Capital Management LP to its board. The move was considered by many as groundbreaking in that a U.S. activist fund manager had never been installed onto the board of a FTSE 100 company before, especially one so ingrained in British culture. The activist director, Bradley Singer, received a seat in a collaborative manner with no public display of hostility. And his candidacy was boosted by the support of a large number of European institutional investors, another development that suggests the continent was becoming more...
Nelson Peltz in New York in 2013. His investment firm Trian Fund Management took a $3.5 billion stake in Procter & Gamble this past February.
The path into a hedge fund job isn't always obvious and in the case of activist firm Elliott Advisors, its latest hires are far from the typical buy-side hire. The