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Engaged Cap Wants DFRG Sold Immediately

Newport Beach, CA, December 6, 2018 – Engaged Capital, LLC, an investment firm specializing in enhancing the value of small and mid-cap North American equities, today sent a letter to the Board of Directors of Del Frisco’s Restaurant Group, Inc. (NASDAQ:DFRG). The full text of the letter follows: December 6, 2018 Del Frisco’s Restaurant Group, Inc….

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Mallinckrodt to Spin Off Generic Biz

STAINES-UPON-THAMES, United Kingdom – Dec. 6, 2018—Mallinckrodt plc (NYSE: MNK), a leading global specialty pharmaceutical company, today announced plans to spin off a new company consisting of Mallinckrodt’s Specialty Generics/Active Pharmaceutical Ingredients (Specialty Generics) business and AMITIZA® (lubiprostone) to Mallinckrodt shareholders, subject to final Board approval. The separation is expected to create two independent, appropriately capitalized, publicly…

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FrontFour Calls for Changes at MDCA

Purpose of Transaction. The Reporting Persons purchased the securities of the Issuer reported herein based on their belief that such securities, when purchased, were undervalued and represented an attractive investment opportunity. Over the past several months, FrontFour Capital (together with its affiliates, “FrontFour”) has engaged in communications with the Issuer’s management team and Board of…

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Simcoe Capital Voices Concerns Over DFIN Performance

The Reporting Persons purchased the Shares based on the Reporting Persons’ belief that the Shares, when purchased, were and continue to be substantially undervalued, particularly when considering the Issuer’s growing software as a service (SaaS) revenue streams and strong, consistent free cash flow generation. The Reporting Persons are supportive of the Issuer’s management team as…

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UTX to Split Into Three Cos

FARMINGTON, Conn., Nov. 26, 2018 /PRNewswire/ — United Technologies Corp. (NYSE: UTX) today announced the completion of its acquisition of Rockwell Collins (NYSE: COL) and the company’s intention to separate its commercial businesses, Otis and Carrier (formerly CCS), into independent entities. The separation will result in three global, industry-leading companies: United Technologies, comprised of Collins Aerospace Systems…

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Cruiser Thinks ASH Stock Worth 53% More

New York, NY – (November 20, 2018) – Cruiser Capital Advisors, LLC (“Cruiser”), the beneficial owner of approximately 2.5% of the shares of Ashland Global Holdings Inc. (“Ashland” or “the Company”) (NYSE: ASH), today issued a public letter to the Ashland Board of Directors (the “Board”) outlining Cruiser’s concerns. The full text of the letter is…

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NUAN to Spin Off Auto Unit

BURLINGTON, Mass., Nov. 19, 2018 (GLOBE NEWSWIRE) — Nuance Communications, Inc. (NASDAQ: NUAN) today announced its intention to spin off its Automotive business segment into a new, independent, publicly traded company (“Nuance Auto”). The standalone entity will be a pure-play, next-generation automotive software company.  Immediately following the transaction, which is expected to be completed before…

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BGC Partners to Distribute Newmark Shares

NEW YORK, Nov. 13, 2018 /PRNewswire/ — BGC Partners, Inc. (NASDAQ: BGCP) (“BGC Partners”, “BGC”, or “the Company”), a leading global brokerage and financial technology company, today announced that its Board of Directors (the “Board”) has approved the distribution of all of the shares1 of Newmark Group, Inc. (NASDAQ: NMRK) (“Newmark”) held by the Company to stockholders…

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BC Files Form 10 for Life Fitness Spin-Off

We are sending you this Information Statement in connection with the spin-off by Brunswick Corporation, or “Brunswick”, of its wholly owned subsidiary, Life Fitness Holdings, Inc., or “Life Fitness” for purposes of this Information Statement. To effect the spin-off, Brunswick will distribute at least 80.1% of the shares of Life Fitness common stock on a…

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Zayo Plans to Separate into Two Cos

BOULDER, Colo. – November 7, 2018 – Zayo Group Holdings, Inc. (NYSE: ZAYO) today announced it plans to separate into two publicly traded companies: one to focus on providing core communications infrastructure and another to leverage infrastructure to provide solutions for a broad set of enterprise customers. Zayo Infrastructure, “InfraCo,” will be a unique, fiber-focused infrastructure…

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FMC Corp Sets Livent Spin Off Date

Third Quarter Highlights Consolidated revenue of $1.0 billion, up 60 percent versus Q3 ’17 Consolidated GAAP earnings of $0.54 per diluted share, up 32 percent versus Q3 ’17 Consolidated adjusted earnings per diluted share of $0.98, up 40 percent versus Q3 ’17 Agricultural Solutions segment revenue of $924 million, up 5 percent versus Q3 ’17, on a pro forma basis…

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Trinity Completes Arcosa Spin-Off

DALLAS–(BUSINESS WIRE)– Trinity Industries, Inc. (NYSE: TRN) (“Trinity”), announced today that it has completed the separation of its infrastructure-related business, Arcosa, Inc. (“Arcosa”), a growth-oriented manufacturer of infrastructure-related products and services with leading positions in construction, energy, and transportation markets. The spin-off was effected through a pro rata dividend to Trinity’s stockholders of all outstanding…

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Legion Partners’ Thesis on OSPN

Purpose of Transaction. The Reporting Persons purchased the Shares based on the Reporting Persons’ belief that the Shares, when purchased, were undervalued and represented an attractive investment opportunity. Depending upon overall market conditions, other investment opportunities available to the Reporting Persons, and the availability of Shares at prices that would make the purchase or sale…

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Harbert Calls for Sale of Bluerock Resi

Purpose of Transaction. The Reporting Persons originally purchased the securities of the Issuer (the “Shares”) reported herein based on their belief that the securities were undervalued and represented an attractive investment opportunity. Depending upon overall market conditions, other investment opportunities available to the Reporting Persons, and the availability of Shares at prices that would make…

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Gastar Exploration Files Chapter 11

HOUSTON, Oct. 26, 2018 /PRNewswire/ — Gastar Exploration Inc. (OTCQB: GSTC) (the “Company” or “Gastar”) today announced that it has entered into a restructuring support agreement (the “RSA”) with the Company’s largest (and only) funded-debt creditors and largest common shareholders, certain funds affiliated with Ares Management LLC (collectively, “Ares”).  Subject to the terms and conditions of the RSA, Ares…

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Getting Hammered: HON Completes REZI Spin-off

MORRIS PLAINS, N.J., Oct. 29, 2018 /PRNewswire/ — Honeywell (NYSE: HON) announced today that it has completed its spin-off of Resideo Technologies, Inc., Honeywell’s former Homes and ADI Global Distribution business. Resideo shares will begin “regular way” trading on the New York Stock Exchange today under the symbol “REZI.” “The spin-off of Resideo marks the completion of the…

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Fir Tree Sends Letter to Halcón’s Board

October 22, 2018  Dear Members of the Board of Directors: As one of Halcón’s largest shareholders, we are writing, first and foremost, to reiterate our strong support for Halcón’s initiatives to maximize shareholder value, including the $2.0 billion in asset sales to date and the successful development of, and recent announcement to divest, the midstream business.  These…

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Kimmeridge Disappointed with Subscale Resolute Energy

October 19, 2018 Resolute Energy Corporation 1700 Lincoln Street, Suite 2800 Denver, CO 80203 Attention: Board of Directors Dear Members of the Board, As beneficial owners of almost 10% of Resolute Energy Corporation (“Resolute” or the “Company”) shares, we are writing to you today as concerned shareholders. In 2017, Kimmeridge acquired a position in Resolute…

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OA Spin-Off Calendar

# Announced Date Parent Ticker Parent Co Name Spin-Off Ticker Spin-Off Co Name Spin-Off Description Most Recent Filing Transaction Date 1 12/11/15 DWDP DowDuPont Inc. Corteva Agriscience Agriculture Link By 6/1/19 1 12/11/15 DWDP DowDuPont Inc. Dow Holdings Inc. Material Sci Link By 4/1/19 1 12/11/15 DWDP DowDuPont Inc. DuPont Specialty Prod By 6/1/19 2…

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Blue Lion Calls HMST Performance Worst-in-Class

October 17, 2018 HomeStreet, Inc. 601 Union Street, Suite 2000 Seattle, WA 98101 Attention: Mr. Mark Mason Chairman, CEO & President Dear Mark, It has now been almost eleven months since we wrote our first letter to you and the other members of the Board of Directors (“Board”) of HomeStreet, Inc. (“HMST” or the “Company”)….