Monthly Archives: November 2011

p-Value Capital to Withold Vote from Myrexis

p-Value Capital Management, LLC today issued a notice to the fellow shareholders of Myrexis, Inc. that it will withhold votes from the Company’s nominees for the Board of Directors at the annual meeting of stockholders scheduled for December 8, 2011. Selecting “WITHHOLD” on the proxy ballot causes a shareholder’s shares to not be counted in favor…

Icahn Wants WebMD to Conduct Dutch Auction

(Filed by Carl Icahn) Item 4. Purpose of Transaction  Item  4  of  the  Schedule  13D  is hereby amended by adding the following: The  Reporting  Persons  are  not aware of and nor do the Reporting Persons support  a  sale of the Issuer to, or any other transaction involving, a private equity  acquirer.  The  Reporting  Persons  intend …

Nantahala’s Initial filing on Adams Golf Inc.

(Filed by Nantahala Capital) Item 4.  Purpose of Transaction. The Reporting Person acquired the securities to which this statement relates for investment purposes and does not have a present intent to acquire or influence control over the business of the Issuer. The Reporting Person may, from time to time, dispose of some or all of such…

Overview of AMR Bankruptcy

  As of November 1, 2011, American Airlines had a fleet of over 600 jet aircraft; substantially all of the aircraft in AMR’s fleet are financed through operating leases, capital leases, private bank mortgages, and publicly-issued secured debt instruments. The Need to File Chapter 11: Since 2009, AMR’s financial performance has lagged behind its major…

Icahn Repeats Offer in a Follow-Up Letter to Commercial Metals

November 28, 2011 Board of DirectorsCommercial Metals Company6565 North MacArthur Boulevard, Suite 800Irving, Texas 75039 Ladies and Gentlemen: We have seen your press release “Commercial Metals Company to Review Unsolicited Letter  From  Carl Icahn” issued earlier today. You stated in your press release that:  “The  Company noted that Icahn’s letter did not constitute a formal…

Icahn Proposes to Acquire Commercial Metals

November 28, 2011  Board of Directors Commercial Metals Company 6565 North MacArthur Boulevard, Suite 800 Irving, Texas 75039  Ladies and Gentlemen:  I  am  currently your largest shareholder and beneficially own 9.98% of the outstanding  common  shares of Commercial Metals Company (the “Company”) through several  affiliated  entities,  including  subsidiaries  of Icahn Enterprises LP (NYSE: IEP). Based…

Shanda Games Paying Special Dividend

Shanda Games Limited, a Chinese online game developer announced that its board of directors declared a special one-time cash dividend of US$0.51 per Class A or Class B ordinary share, or US$1.02 per American Depositary Share. Record holders of the Company’s Class A and Class B ordinary shares at the close of business on December 20,…

Relational’s Supportive 13D Filing on Par Pharma

(Filed by Relational Investors, LLC) Item 4.  Purpose of Transaction The Reporting Persons acquired the Shares covered by this Statement because, in their opinion, such Shares are undervalued by the market at the present time. The Reporting Persons believe that several major factors have contributed to the Shares’ undervaluation and underperformance, including: (i) operating losses…

MAST Capital Questions LodgeNet Directors’ Commitment

November 23, 2011 Mr. Scott PetersenChairman & CEOLodgeNet Interactive Corporation3900 West Innovation StreetSioux Falls, SD 57107 – 7002 Mr. Petersen: Funds managed by MAST Capital Management, LLC collectively own 2,421,815 shares of the common stock of LodgeNet Interactive Corporation (“LodgeNet”) as of the date hereof. According to Bloomberg, this stake makes us the second largest LodgeNet shareholder. We…

PMI Group Files Chapter 11 – Potential NOL Shell

Walnut Creek, California based mortgage insurer, The PMI Group, filed Chapter 11 today in Delaware (Case 11-1370).  Here are the key points from the CEO’s declaration & Voluntary Petition: 1. As of 6/30/11, the Debtor had $1.127 billion in NOLs and income tax credits of $195 million.  The Company projects significant additional NOLs in 2011.  PMI has filed…

Activist Filing on Barrett Business Services

(Filed by Estate of William Sheretz)   As disclosed in Item 3, the Estate acquired beneficial ownership of the shares of Common Stock covered by this Schedule 13D as a result of the passing of William W. Sherertz. Ms. Sherertz acquired beneficial ownership of the shares of Common Stock covered by this Schedule 13D either by gift from Mr. Sherertz…

Sandell Asset Demands SemGroup Sell Itself

Gentleman: As a shareholder with a substantial investment in SemGroup Corporation, we are writing to advise you that we do not believe that the Board is acting in the best interests of the shareholders in pursuing its current strategic direction of the Company. While we fully agree with the Board’s rejection of the proposal by Plains All American Pipeline,…

Advanced Energy Announces Significant Buyback

Advanced Energy Industries, Inc. Board of Directors has authorized the company to repurchase up to $75 million of its common stock over the next 12 months. Purchases under the program may be made from time-to-time in the public or private markets, through block trades, Rule 10b5-1 trading plans or other available means and may include the…

Carlson’s Original Filing on Consolidated-Tomoka

(13D Filed by Carlson Capital) The Reporting Persons acquired the Common Stock to which this Schedule 13D relates for investment purposes in the ordinary course of business, and not with the purpose nor with the effect of changing or influencing the control or management of the Issuer. The Reporting Persons acquired the Common Stock because…

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