Monthly Archives: December 2014

Corvex Files 13D on American Realty Capital

  Purpose of Transaction The responses to Items 3, 5 and 6 of this Schedule 13D are incorporated herein by reference. The Reporting Persons acquired the Shares and options referred to in Item 5 over which they exercise beneficial ownership in the belief that the Shares of the Issuer are undervalued and an attractive investment….

Icahn Wants MTW to Split Units

Purpose of Transaction The Reporting Persons acquired their positions in the Shares in the belief that they were undervalued. The Reporting Persons intend to have discussions with representatives of the Issuer’s management and board of directors relating to separating the Issuer’s Crane and Foodservice segments into two separate companies. The Reporting Persons may also seek…

North Star Disappointed with Alteva

  Eric Kuby North Star Investment Management Corp. 20 N. Wacker Drive #1416 Chicago, IL 60606 December 16, 2014 Kelly C. Bloss Alteva, Inc. 401 Market Street, First Floor Philadelphia, PA 19106 Ms. Bloss, We feel that it is in our best interest to publicly express our disappointment in the current Board of Directors of…

Lone Star Wants Dakota Plains to Look for a Buyer

(Market Cap $68M) December 15, 2014 Board of Directors Dakota Plains Holdings, Inc. Members of the Board: Lone Star Value Investors, LP currently owns 4,000,000 shares of Dakota Plains Holdings, Inc., making us DAKP’s largest shareholder.  At Lone Star Value, our goal is to invest in undervalued securities and engage with our portfolio companies to…

Goodrich Petroleum to Explore Strategic Alternatives

2015 CAPITAL EXPENDITURE BUDGET The Company today announced a preliminary capital expenditure budget for 2015 of $150 – 200 million, with flexibility to accelerate with improvement in oil prices and the monetization of certain assets described below. Oil-directed capital is estimated to be in excess of 95% of the total, with the entire oil-directed allocation…

Park City Cap Sees ARIS Stock Undervalued

 December 9, 2014  Mr. Roy W. OlivierPresident and CEOARI Network Services, Inc. Dear Roy,  Park City Capital, LLC is a private investment firm based in Dallas, TX. As you know from prior conversations, investment funds that we manage have acquired a 7.0%1 interest in ARI Network Services, Inc. (“ARI” or “ARIS” or the “Company”) bringing our…

TriMas to Spin Off Cequent

(Market Cap $1.44B) TriMas Corporation – a manufacturer of engineered and applied products has approved a plan to pursue a tax-free spin-off of 100% of its Cequent businesses into a new stand-alone, publicly traded company. Cequent is a designer, manufacturer and distributor of custom-engineered towing, trailer and cargo management products, and other accessories. This transaction…

Discovery Group Urges Carbonite to Negotiate with J2

  December 4, 2014   The Board of Directors Carbonite, Inc. 2 Avenue de Lafayette Boston, MA  02111   Dear Directors:   As you know, Discovery Group is one of the largest shareholders in Carbonite, owning approximately 7.8% of the outstanding shares.   We have followed Carbonite for several years, and we have had many  meetings and discussions with…

Starboard Blames Acquisitions for Undervaluation of ISSI

(Market Cap $501M) Integrated Silicon Solution, Inc. 1623 Buckeye DriveMilpitas, CA 95035Attn: Scott Howarth, President and Chief Executive Officercc: Board of Directors Dear Scott, Starboard Value LP, together with its affiliates (“Starboard”), and Oliver Press Partners, LLC (“OPP”), currently own approximately 8.0% of the outstanding common stock of Integrated Silicon Solution, Inc. (“ISSI” or the “Company”), making…

Hawaiian Electric to Merge-Spin Off Unit

(Market Cap $2.9B) Hawaiian Electric Industries, Inc. has approved a plan to spin off ASB Hawaii, Inc., the parent company for American Savings Bank, and establish it as an independent publicly traded company.  The spinoff of ASB Hawaii is contingent upon the closure of the separately announced definitive agreement under which NextEra Energy, Inc. will…

Cannell Goes After Boo-Ya-Cramer

Mr. James J. Cramer Director TheStreet, Inc. 14 Wall Street New York, NY 10005 Cannell Capital LLC – that twenty-two-year-old SEC-registered investment advisor which manages sundry accounts that collectively owned 8.95% percent of TheStreet,Inc. (“TST” or the “Company”) as of December 2, 2014 – hereby amends its filing position as regards TST from passive to…

Accretive Capital Files 13D on Cash-Rich Actions Semi

(Market Cap $118M; Accretive owns 9.2%) 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…

Carbonite Gets an Offer from J2 Global

  December 2, 2014 David Friend Todd Krasnow Pravin Vazirani Carbonite, Inc. Two Avenue de Lafayette Boston, Massachusetts 02111     Re: Proposal to Purchase Carbonite, Inc. Dear Gentlemen: Over the last few months, we have had a chance to discuss j2 Global, Inc. and Carbonite, Inc. on a number of occasions, including our extremely enjoyable luncheon…

North Tide Urges Amedisys on Merger

(Market Cap $855M)       December 2, 2014   Board of Directors Amedisys, Inc. 5959 S. Sherwood Forest Blvd. Baton Rouge, LA 70816   Dear Ladies and Gentlemen,   North Tide Capital LLC (“North Tide”), through certain funds we manage, currently owns approximately 12.0% of the outstanding common shares of Amedisys, Inc. (the “Company”…

Capital Southwest to Spin Off Industrial Co

Capital Southwest Corporation has approved a plan to spin-off certain of its control assets into a standalone, publicly traded company. The separation is designed to unlock shareholder value immediately and to enhance long-term shareholder value by establishing two strong, independent companies with distinct growth strategies: one business will be a diversified industrial growth company (“Industrial…

B/E Aerospace Provides KLX Spin-Off Details

(Market Cap $8.1B) In connection with its previously announced spin-off of KLX Inc., B/E Aerospace, Inc. announced that it has been informed by NASDAQ about the certain key dates relating to trading in common stock of KLX and B/E Aerospace in connection with the spin-off. As previously announced, the record date for the distribution of KLX…