Monthly Archives: August 2012

Sabby Mgmt Accuses Microcap Biotech of Destroying Value

Sabby Management, LLC August 29, 2012    To the Board of Directors of Cardium Therapeutics, Inc.   Sabby Management, LLC  and its associated funds (collectively, “Sabby”) have a collective beneficial ownership exceeding 8% of the current outstanding shares of Cardium Therapeutics, Inc. (“Cardium”).  The purpose of this letter is to express our profound dissatisfaction with…

Gleacher & Co Looking for a Buyer?

Gleacher & Company, Inc. has retained a financial advisor to assist it in exploring and evaluating strategic alternatives for the Company. In furtherance of the Company’s strategic plan, the Company intends to consider a range of available options, including partnering with one or more equity investors, strategic acquisitions and divestitures, and a business combination involving the…

Genpact Paying Special Dividend of $2.24 / Share

Genpact Limited has declared a special cash dividend of $2.24 per share, for an aggregate amount of approximately $501 million, to holders of Genpact common shares.  The dividend will be paid on September 24, 2012 to shareholders of record as of the close of business on September 10, 2012. The ex-dividend date will be September…

SAIC to Spin-Off Tech Services Unit to Shareholders

 Science Applications International Corporation (SAIC) today announced that its Board of Directors, following a recently completed comprehensive strategic review, has authorized management to pursue a plan to separate into two independent, publicly traded companies. The proposed separation is intended to take the form of a tax-free spin-off to SAIC stockholders of 100% of the shares of…

AOL Returning $1.1 Billion to Shareholders

AOL Inc. is returning $1.1 billion to shareholders via $600 million stock buy back and a $5.15 per share special cash dividend. The Company has agreed to repurchase $600 million worth of common stock under the ASR Agreement, utilizing the share repurchase authorization previously approved and an incremental $10 million authorized by the Company on August 26. AOL will pay the $600…

Pershing Square Sends Detailed Letter to GGP Board

The Board of Directors c/o Mr. Sandeep Mathrani, Chief Executive Officer General Growth Properties, Inc. 110 N. Wacker Drive Chicago, IL 60606 To the Board of Directors of General Growth Properties: As you are likely aware, Pershing Square has been one of the top two shareholders of General Growth from late 2008 to the present. We…

Corvex Wants Sale Or Merger of Ralcorp Holdings

The Reporting Persons acquired the Shares in the belief that the Shares are undervalued and are an attractive investment. The Reporting Persons have had meetings and conversations with management of the Issuer to discuss the Issuer’s operations, strategy, and governance and will seek to have additional conversations with one or more of the Issuer’s management, members…

Icahn Pulls CVR Energy Bid

August 21, 2012    Board of Directors CVR Energy, Inc.   Gentlemen:   At the time we made our original offer on August 6th to take CVR Energy private, we stated that we were willing to pay $29.00 per share but in no event would we consider paying more than $30 per share. Since then…

Group Pushing for CEDU Sale Has Hired I-Banker

The second, third and fourth paragraphs of Item 4 of the Schedule 13D are hereby amended and restated by the following: The Lake Union Parties acquired their interests in the Company between April 7, 2008 and August 9, 2012, and presently hold approximately 5.3% of the Company’s Ordinary Shares in the form of ADSs. The…

Shah Capital Files 13D on Cash Rich China Xiniya

The reporting person originally purchased the shares of Common Stock based on its belief that the shares of Common Stock, when purchased, were undervalued and represented an attractive investment opportunity. The reporting  person intends to review its investment in the Issuer on a continuing basis and in connection therewith, may engage in discussions with the Board…

CompuCredit to Tender for 35% Shares at $10 per Share

CompuCredit Holdings Corp has commenced a cash tender offer for up to 8.25 million shares of its outstanding common stock at a purchase price of $10.00 per share.  As of August 14, 2012 there were approximately 23.7 million shares of Common Stock outstanding (including approximately 1.7 million loaned shares).  The Tender Offer is scheduled to expire…

DNP Select Income Fund Issuing 1:8 Subscription Rights

(Yield 6.8%) DNP Select Income Fund Inc. is issuing transferable rights that will entitle shareholders to purchase additional shares of common stock.  The proceeds from the offering will increase the fund’s assets and enable the fund to take advantage more fully of existing and future investment opportunities. Summary of the Terms of the Offer: Subject to the registration…