Monthly Archives: May 2015

JCP Contacted by Strategics on Casella Waste

May 29, 2015 Dear Members of the Board, JCP Investment Management, LLC (together with its affiliates, “JCP” or “we”), and the other participants in its solicitation seeking to elect three highly-qualified directors to the Board of Directors (the “Board”) of Casella Waste Systems, Inc. (“Casella” or the “Company”), collectively own approximately 5.4% of Casella’s outstanding…

Computer Sciences to Spin Off Unit

Computer Sciences Corporationhas approved a plan to separate the company into two publicly traded, pure-play leaders: one to serve commercial and government clients globally and one to serve public sector clients in the U.S. Concurrent with the separation, CSC intends to pay a special cash dividend to shareholders of $10.50 per share at closing, which…

Cree to Partial-IPO Power and RF Unit

Cree’s wholly owned Power and RF subsidiary has submitted a draft registration statement on a confidential basis to the U.S. Securities and Exchange Commission for a potential initial public offering of the subsidiary’s Class A common stock. The type and number of shares of stock to be sold and the price range for the proposed…

Accretive Asks MCG to Consider HC2’s Offer

May 18, 2015 Mr. Richard W. Neu Chairman MCG Capital Corporation 1001 19th Street North, 10th Floor Arlington, VA 22209 Dear Ladies and Gentlemen of the MCG Capital Corporation Board: As one of the largest owners of MCG Capital Corporation (“MCG”), holding approximately two million shares of MCG stock, Accretive Capital Partners commends the Board of Directors (the “Board”)…

Alteva to Pay Special Divy of $2.60 per Share

Special Cash Dividend Alteva announced that its board of directors has authorized and declared a special cash dividend of $2.60 on each outstanding common share. The record date for the special cash dividend is the close of business on June 19, 2015, and the payment date for the special cash dividend is June 30, 2015….

EMCORE to Conduct Dutch Auction for Shares

EMCORE Corporation, a provider of compound semiconductor-based components, subsystems, and systems for the broadband and specialty fiber optics market, has commenced a modified “Dutch auction” tender offer to purchase shares of its common stock, up to an aggregate purchase price of $45 million, at a price not greater than $6.75 nor less than $6.25 per share,…

Archer Capital Files 13D on Luxfer Holdings

  The Reporting Persons, on behalf of the Funds, acquired and hold the ADS Shares reported in this Schedule 13D for investment purposes. The Reporting Persons and their representatives have, from time to time, engaged in, and expect to continue to engage in, discussions with members of the board of directors (the “Board”) and members…

Crossroads to Commence Rights Offering

  Crossroads Systems, Inc. plans to commence a rights offering of common stock to holders of shares of its common and preferred stock. The Company plans to make the rights offering through the distribution to its common and preferred stock holders to purchase shares of the Company’s common stock at a subscription price to be determined…

Danaher to Spin Off Industrial Businesses

Danaher Corporation intends to separate the company into two independent, publicly traded companies. A science and technology growth company that will retain the Danaher name. Collectively, its businesses generated approximately $16.5 billion in annual revenues (including Pall Corporation, which Danaher has signed an agreement to acquire).  NewCo will retain Danaher’s diversified industrial businesses that generated approximately $6.0…

Yes, Now is a Good Time to Invest in Nationstar

1. Nationstar is one of the largest non-bank mortgage servicers in the U.S.  With 109M shares outstanding, it has a market cap of $2.2B and tangible book value of $1.7B.  2. I have been following this sector closely over the past couple of years due to Ocwen-related spin-off activity (ASPS, RESI and AAMC).   3….

Armistice Capital Wants Spectrum Pharma Sold

May 11, 2015 Rajesh C. Shrotriya, MD Chairman and Chief Executive Officer Spectrum Pharmaceuticals, Inc. 11500 South Eastern Avenue, Suite 240 Henderson, NV 89052   cc: Board of Directors   Dr. Shrotriya:   On the night Spectrum Pharmaceuticals (“SPPI” or the “Company”) lost its United States District Court case against Sandoz, exposing half of its…

SunEdison to Review Strategic Alternatives

SunEdison, Inc. is reviewing strategic alternatives to more effectively align the company structure as a sponsor in a long term asset ownership platform, through its TerraForm platform.  The most efficient and commonly utilized structure by sponsors of yield vehicles is the general partnership (GP) structure in a master limited partnership (MLP). The Company is considering a…