Monthly Archives: February 2011

ISS Sides with Ramius on Zoran

NEW YORK, Feb. 24, 2011 /PRNewswire/ — Ramius Value and Opportunity Advisors LLC, a subsidiary of Ramius LLC (collectively, “Ramius”), today announced that Institutional Shareholder Services (ISS), the leading independent proxy voting advisory and risk management consulting firm to the global financial community, has recommended that shareholders of Zoran Corporation (ZRAN:$10.97,00$0.09,000.83%) consent on Ramius’ WHITE…

Skellig Urges Concurrent Computer for a Share Buyback

Skellig Capital Management LLC117 East 55th StreetNew York, NY 10022 February 22, 2011 Concurrent Computer Inc.The Board of DirectorsMr. Steve Nussrallah, ChairmanMr. Dan Mondor, Chief Executive Officer4375 River Green ParkwaySuite 100Duluth, GA 30096 Dear Concurrent Board Members: Skellig Capital Management LLC is the second largest shareholder of Concurrent Computer Inc. (“Concurrent” or the “Company”), with…

CLIM Dissatisfied with Greater China Fund

The following letter was sent to the Chairman of The Greater China Fund, Inc. The Fund continues to trade at a discount to its net asset value (“NAV”) after last year’s rights offering. City of London Investment Management Company Limited urges the Board to take steps to provide all shareholders with an opportunity to realize…

Tim Hortons Announces $445 mm Buyback Program

Market Cap = $7.2 Billion OAKVILLE, ON, Feb. 23 /CNW/ – Tim Hortons Inc. (TSX: THI, NYSE: THI) today announced that it has obtained regulatory approval from the Toronto Stock Exchange (TSX) to commence a new share repurchase program for up to $445 million in common shares, not to exceed the regulatory maximum of 14,881,870…

TJX Announces $1.2 Bil Buyback

Market Cap =$19.7 Billion Increase in Shareholder Distributions The Company also announced today its plans to repurchase approximately $1.2 billion of TJX stock during the Fiscal Year ending January 28, 2012. With approximately $600 million remaining at year end under the Company’s existing stock repurchase program, the Company’s Board of Directors approved a new stock…

Amdocs Adds $1 Bil to Buyback

Market Cap = $5.6 Billion The board of directors has authorized a share repurchase plan allowing the repurchase of up to $1 billion of ordinary shares over the next 2 years. This plan is in addition to the $700 million authorization from April 2010, of which $198 million remained outstanding as of December 31, 2010…

RailAmerica Announces $50 mm Buyback

Market Cap= $732 mm “Given our strong cash position and cash flow, we have announced a $50 million share repurchase program. We see repurchasing our shares as an excellent investment, which complements our focus on building shareholder value through organic growth and acquisitions.” RailAmerica announced today that its board of directors authorized the repurchase of…

Zoran Issues Letter

  Filed by Zoran Corporation Date: February 23, 2011 *** SUPPORT ZORAN’S DIRECTORS ON THE BLUE CONSENT REVOCATION CARD TODAY*** *** PROPOSED MERGER ANNOUNCED *** February 23, 2011 Dear Zoran Stockholder: Zoran has recently announced a proposed merger with CSR plc, which offers Zoran stockholders a significant premium. The transaction may also provide stockholders the…

WellPoint Increases Buyback to $1.6 Billion

Market Cap = $25.7 Billion INDIANAPOLIS, Feb. 23, 2011 /PRNewswire/ — WellPoint, Inc. (NYSE:WLP – News) today reaffirmed the Company’s previously disclosed earnings per share guidance of at least $6.30 for the full year of 2011. In addition, its Board of Directors declared a quarterly dividend to shareholders in the first quarter of 2011 of…

Chemed Announces $100 mm Buyback

Market Cap = $1.5 Billion CINCINNATI–(BUSINESS WIRE)– Chemed Corporation (NYSE:CHE – News) today announced that the Board of Directors has formally authorized $100 million available for stock repurchase under Chemed’s share repurchase program. These share repurchases will be funded through a combination of cash generated from operations as well as utilization of its revolving credit…

Dillard’s Announces $250 mm Buyback

See our earlier post on DDS dated 1/21/11) Market Cap = $2.5 Billion LITTLE ROCK, Ark.–(BUSINESS WIRE)– Dillard’s, Inc. (NYSE:DDS – News) (the “Company” or “Dillard’s”) today announced that the board of directors has authorized an additional share repurchase program authorizing the Company to repurchase up to $250 million of its Class A Common Stock….

Icahn Bids for Mentor Graphics

CARL C. ICAHN 767 Fifth Avenue, 47th Floor New York, New York 10153 February 22, 2011 Via Federal Express and Fax Board of Directors Mentor Graphics Corporation 8005 S.W. Boeckman Road Wilsonville, OR 97070-7777 Gentlemen: I hereby offer to have one or more of my affiliated entities purchase Mentor Graphics in a transaction, the form…

Icahn’s Pending Dynegy Acquisition is Terminated

HOUSTON–(BUSINESS WIRE)– Dynegy Inc. (NYSE:DYN – News) today announced that Bruce A. Williamson, pursuant to a mutual agreement with the Board of Directors, will resign as President and Chief Executive Officer, effective March 11, 2011. Mr. Williamson has also resigned as a director and Chairman of the Board, effective immediately. David Biegler, currently an independent…

Ramius Comments on Zoran’s Merger Announcement

Ramius Responds To Announcement Of Merger Between Zoran Corp And CSR PLC 02/22 09:03 AM Believes Transaction May Undervalue ZoranQuestions Whether Board Ran a Full and Fair Sale Process to Maximize Value for All Zoran ShareholdersStates that Change on the Zoran Board is Now More Important Than Ever and Urges Shareholders to Consent on the…

Red Mountain’s Initial 13-D on RadNet

RadNet Inc.; RDNT; Market Cap=$116 mm ITEM 4. PURPOSE OF TRANSACTION. Red Mountain acquired the Common Stock reported in this Schedule 13D for investment purposes because it believed that the Common Stock was undervalued and represented an attractive investment opportunity. Red Mountain has met with the management of RadNet and expects to maintain a dialogue…

Discovery Comes to Terms with Tier Technologies

  Item 4. Purpose of Transaction Item 4 of the Schedule 13D is hereby amended by adding the following as the nineteenth, twentieth and twenty-first paragraphs thereof: On February 19, 2011, the Reporting Persons and the Company entered into an agreement (the “Agreement”) in connection with the Company’s 2011 Annual Meeting of Stockholders to be…

Zoran Being Acquired

CSR PLC (“CSR”: LSE: CSR.L or the “Company”) and Zoran Corporation (“Zoran”: NASDAQ: ZRAN) have entered into a merger agreement (the “Merger Agreement”) under which Zoran will merge with CSR (the “Merger”) for an equity value equivalent to approximately US$679 million* (the “Transaction Value”). Under the terms of the Merger Agreement, it is proposed that…

Innovative Solutions Announces 1 mm Share Buyback

(Total shares outstanding = 16.8 mm) EXTON, Pa.–(BUSINESS WIRE)– Innovative Solutions & Support, Inc. (NASDAQ:ISSC) (the “Company”) today announced that the Board of Directors has approved a stock repurchase program pursuant to which the Company may repurchase up to 1 million shares of its common stock. The program will remain in effect until February 10,…