Monthly Archives: May 2014

Attiva Ups Stake in Badly Crushed Doral Financial

Item 4.  Purpose of Transaction The disclosures below are specifically intended to reflect information relating to clauses (a), (b), (c), (d) and (j) of Item 4 of Schedule 13D. Each of the Reporting Persons intend to review his or its investments in the Issuer on a continuing basis and any of them may engage in discussions with management and the…

Casablanca Presses Cliffs Natural to Eliminate Proxy Put

On May 29, 2014, Casablanca Capital LP (“Casablanca”) issued by press release (the “May 29 Press Release”) a letter to shareholders of the Issuer (the “May 29 Letter”) underscoring the alignment of its interests with those of all shareholders, reiterating its commitment to driving what it believes to be the real change needed to restore…

Marcato Pressing IHG to Explore Merger

(Market Cap $9.9B) Marcato Capital Management LP, a San Francisco-based investment manager that owns securities representing approximately 3.8% of outstanding shares of Intercontinental Hotels Group plc (LSE: IHG; NYSE: IHG), today issued the following statement from Mick McGuire, Founder and Managing Partner of Marcato: “We have seen media reports regarding a recent, unsolicited offer for…

Aspen Contemplating Acquiring Vivus

The Reporting Persons believe that the Issuer’s Common Stock is undervalued and is an attractive investment. The Reporting Persons intend to engage in discussions with the Issuer and Issuer’s management and board of directors, other stockholders of the Issuer and other persons that may relate to governance and board composition, management, operations, business, assets, capitalization,…

Becker Drapkin Files 13D on Recently Crushed PowerSecure

(Market Cap $185M; Becker Drapkin owns 8.8%) Purpose of Transaction (a)-(j) The Reporting Persons purchased the Common Stock and the options to purchase Common Stock described in this Statement based on their belief that the shares of Common Stock are undervalued and represent an attractive investment opportunity. The Reporting Persons believe the assets of the…

Magnolia Capital Files 13D on Northeast Bancorp

(Market Cap $102M; Magnolia owns 6.44%; Price to Book Value = 0.86) Purpose of Transaction   Although no Reporting Person has any specific plan or proposal to acquire or dispose of the Common Stock, consistent with its investment purpose, each Reporting Person at any time and from time to time may acquire additional shares of…

Starboard Nominates 12 for Darden Board

On May 21, 2014, Starboard delivered a letter to the Issuer (the “Nomination Letter”) nominating a slate of twelve highly qualified director candidates, including Betsy S. Atkins, Margaret Shân Atkins, Jean M. Birch, Bradley D. Blum, Peter A. Feld, James P. Fogarty, Cynthia T. Jamison, William H. Lenehan, Lionel L. Nowell, III, Jeffrey C. Smith,…

Elliott Assoc in a Micro-Cap Private Placement?

(Market Cap $10.5M) Purpose of Transaction. Item 4 is hereby amended to add the following: On May 19, 2014, the Reporting Persons entered into a securities purchase agreement (the “Purchase Agreement”) with the Issuer and certain other investors (collectively, the “Investors”). Pursuant to the terms of the Purchase Agreement, Elliott and Elliott International acquired, in…

Marcato Files 13D on Life Time Fitness

Purpose of Transaction. The responses to Items 3, 5 and 6 of this Schedule 13D are hereby incorporated by reference. The Reporting Persons acquired the Shares over which they exercise beneficial ownership in the ordinary course of their investment activities. The Reporting Persons purchased the Shares based on the Reporting Persons’ belief that the Shares,…

Cannell Capital Forms Shareholder Group at TSYS

Item 4 is hereby amended by deleting Item 4 of Amendment No. 3 in its entirety and replacing it with the following: The Reporting Persons, who have, as of May 5, 2013, formed a group known as the Concerned TSYS Shareholders (“CTS”), purchased shares of Common Stock of the Issuer based on certain investment criteria…

Vector Group Adds its Support for Sale of Morgans

  ITEM 4.         PURPOSE OF TRANSACTIONS  The Securities were acquired with a view towards the Reporting Persons potentially influencing material business decisions relating to the future of the Company. The Reporting Persons will monitor developments at the Company on a continuing basis, and may communicate with members of management of the Company, with other stockholders or…

Why is Carlson Capital Buying Stock in SWK Holdings?

  carlson capital, l.p. 2100 mckinney avenue, suite 1800, dallas, texas 75201 phone 214.932.9600 fax 214.932.9602 web carlsoncapital.com May 16, 2014 SWK Holdings Corporation 15770 North Dallas Parkway, Suite 1290 Dallas, Texas 75248 Attention: Board of Directors Gentlemen: Since implementing its new strategy two years ago, SWK Holdings and its management team have done an excellent…

Engaged Capital Files 13D on Medifast

(Market Cap $400M; Engaged Capital owns 5.7%) 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…

Sears Canada to Explore Sale

(Market Cap $1.6B) Sears Canada Inc. has announced its intention to explore strategic alternatives including the potential divestiture of its remaining shares in Sears Canada and/or the sale of Sears Canada as a whole.  Sears Canada’s board and management intend to cooperate fully with Sears Holdings in this process to achieve value for all shareholders. …

TranDigm Group to Pay Special Dividend

TransDigm Group Incorporated has requested amendments to its senior secured credit facilities in connection with considering whether to pay a special dividend. TransDigm Inc. has requested that its senior lenders consent to amendments to its senior secured credit facilities to permit, among other things, a special dividend, to increase its existing senior secured term facility…

Elizabeth Arden to Explore Strategic Alternatives

(Market Cap $1.1B) EXPLORATION OF STRATEGIC ALTERNATIVES The Company has engaged Goldman, Sachs & Co. to assist the Board of Directors in exploring potential strategic alternatives to enhance shareholder value and to accelerate the growth and maximize the value of its brand portfolio. There can be no assurance that the Company will pursue any strategic…