Osmium Partners, which just unseated the CEO and took control of the board of Spark Networks, the parent company of JDate.com and ChristianMingle.com, now holds a 10% stake in Rosetta Stone.
Hedge fund Jana Partners, which has been pushing for a sale of the pet supply company citing poor financial performance in the last year, received anonymous documents that appear to have persuaded PetSmart into considering a deal. Competitor Petco or a private equity firm is looking to bid on the company.
Spark Networks announced today its president and CEO Greg Liberman would step down after 10 years with the online dating company. The move comes one month after a hedge fund took control of the company.
A new database has tracked the biggest winners and losers in activist short-selling. Pershing Square’s Bill Ackman, despite Herbalife, is one of the best; David Einhorn of Greenlight Capital, isn’t.
The hedge fund titan’s Pershing Square Capital is set to conduct an IPO later this year, but industry insiders are worried Ackman is sabotaging its potential success with his increasingly bizarre public behavior.
Darden Restaurants announced late Monday that CEO Clarence Otis will be stepping down after 10 years with the fast casual dining giant. His departure follows the company’s sale of Red Lobster to private equity firm Golden Gate Capital.
Engaged Capital has taken a 7% stake in Jamba Juice, which it believes is struggling to quell money losses from investments in “non-core” products, a tepid international response, and a failing New York City strategy.
Osmium Partners has successfully removed four members of the Spark Networks board after a contentious battle.
The parent company of Olive Garden and Red Lobster missed analyst earnings estimates for the fourth quarter. Executives, who are facing shareholder opposition to the $2.1 billion sale of Red Lobster, called fiscal 2014 “a year of transformation.”
Spark Networks, owner of JDate, Christian Mingle, and other dating websites, is facing a fierce activist campaign by the hedge fund Osmium Partners, which is looking to unseat the board and force a sale of the troubled company.
Darden says its sale last month of the seafood restaurant chain for $2.1 billion was full and fair. Activist investors say it was a scorched earth tactic meant to save the jobs of executives. A showdown is set for the company’s annual meeting later this year.
Nelson Peltz’s giant hedge fund is currently holding a position that makes up 11% of the entire $5.8 billion fund’s portfolio, but has not had to reveal what the name of the stock is, even after the quarter’s filing deadline has passed. This isn’t the first time the SEC has allowed the fund, as well as other large managers, to withhold a major filing, and some smaller activist hedge funds are questioning the fairness of the practice.
Barington Capital announced its support of a shareholder vote to kill the “fire sale” of Red Lobster to the private equity firm Golden Gate Capital. “Blatant disregard for shareholder interest.”
Engaged Capital is betting that Medifast is the anti-Herbalife.
Shareholder rights plans, commonly called “poison pills” because they limit the amount of stock an investor is able to acquire, are increasingly being used by companies against activist investors. But hedge fund manager Dan Loeb is mounting a court challenge to its relevancy in his battle against auction house Sotheby’s.
As interest in sitting on a corporate board builds along with activist investing, it’s becoming increasingly important that companies select the best directors. Industry experts discussed what makes the best candidates at an IPO preparedness event today at the New York Stock Exchange.
Sometimes the billionaire activist pushed for a change that didn’t come, and companies fared better than if they’d heeded his advice, data shows. Most times, Carl Icahn made a lot of money.
The company is imploring shareholders to vote against Icahn’s proposal to spin-off PayPal and appoint two board members at its upcoming annual meeting, and calling out Icahn’s personal attacks and the credentials of his proposed board members. This is just the latest in a heated battle that’s taken shape in the last three months.
The company said in an earnings call Friday morning that the quarter was “challenging,” especially at Red Lobster, which the company is trying to spin off. Darden’s CEO also urged shareholders to communicate with the company instead of holding a special vote on the spin-off or sale that an activist hedge fund has been fighting for in recent months.
Darden Restaurants reports earnings tomorrow, and another weak report could be enough to move shareholders to side with an activist hedge fund that is trying to stop the company from spinning off its chain of Red Lobster restaurants.
Eminence Capital, one of the loudest voices in the battle to merge Men’s Wearhouse and Jos. A. Bank, stands to make millions on the deal.
In reaching an agreement today to acquire Jos. A. Bank for $65 per share, Men’s Wearhouse has ended the months-long battle to merge the two suit retailers. The combined companies will have over 1,700 stores in the U.S. and sales of $3.5 billion.
Starboard Value has gone on a hiring and purchasing spree to help with its battle to keep Olive Garden and Red Lobster under one corporate umbrella. How far will they go to keep the chains together?
After Nelson Peltz’s Trian Fund Management released a white paper making the case for a spin-off of the snack division of PepsiCo, which accounts for most of the company’s value, PepsiCo fired back with a strong rejection of the proposal. Your move, Peltz.
New data from Activist Insight suggests that activist investing for 2014 is already shaping up to outpace last year, and the companies targeted represent a diverse group of industries.
Sony’s entertainment unit followed up its seven Golden Globe wins on Sunday by snagging 21 Oscar nominations today. So much for Loeb’s criticism that the unit was underperforming.
The hedge fund Barington Capital Group is mounting a campaign to break up the parent company of Olive Garden and Red Lobster, Darden Restaurants, in part because of the abysmal performance of those two chains. Here’s a look at how they fell so far so fast.
Contentious hedge fund manager and activist investor Daniel Loeb is usually tight-lipped about the controversies that surround him. But at today’s New York Times DealBook Conference, Loeb dropped some bombs and addressed his critics, including George Clooney.
From the perspective of the private equity sector, anyway.
Six components to taking down a target, as illustrated by hedge fund titans Carl Icahn and Daniel Loeb. Could the pen be mightier than the wallet?