Monthly Archives: June 2015

Pep Boys Looking for a Buyer

The Pep Boys – Manny, Moe & Jack, an automotive aftermarket service and retail chain, today announced that its Board of Directors has commenced a review of strategic alternatives to enhance shareholder value, including a possible sale, merger or other form of business combination or strategic transaction. The Board will be assisted in its review by…

Trian Discloses Activist Position in Pentair

Item 4. Purpose of Transaction The Trian Group acquired the Shares because they believed that the Shares, when purchased, were undervalued in the marketplace and represented an attractive investment opportunity.  The Trian Group has met and engaged in constructive discussions with members of the Issuer’s senior management team, including  Randall J. Hogan, Chairman and Chief Executive Officer…

Emerson Electric to Spin Off Network Unit

Emerson (EMR) today announced it plans to spin off its Network Power business via a tax-free distribution to shareholders as part of a plan to streamline its portfolio, drive growth, and accelerate value creation for shareholders. Emerson will also explore strategic alternatives for its motors and drives, power generation and remaining storage businesses. In addition,…

eBay Announces Terms of PayPal Spin

eBay Inc. has approved the completion of the previously announced separation of eBay and PayPal into independent publicly traded companies. The separation will occur through a pro rata distribution of all of the stock of eBay’s subsidiary PayPal Holdings, Inc. to eBay stockholders. The distribution remains subject to satisfaction of the conditions described in the…

Interactive to IPO Match.com

IAC/InterActiveCorp has approved the pursuit of an initial public offering (IPO) of newly-issued shares of common stock of The Match Group.  IAC also announced that Joey Levin, formerly CEO of its Search & Applications business, has been named CEO of IAC and joined its Board of Directors.  Greg Blatt will remain Chairman, and Sam Yagan…

Ashford Announces Strategic Actions

Ashford Hospitality Trust, Inc. (AHT) (“Ashford Trust” or the “Company”) announced today several strategic initiatives. The Company has analyzed numerous strategies to maximize shareholder value with its select-service hotels including: raising private capital and forming a joint venture, a spin-off similar to Ashford Hospitality Prime, Inc. (AHP) (“Ashford Prime”), holding the select-service assets indefinitely, and/or…

Lone Star Critical of Dakota Plains

LONE STAR VALUE CRITICIZES THE VIOLATION OF SHAREHOLDER RIGHTS AND LACK OF BOARD INDEPENDENCE AT DAKOTA PLAINS Questions Motives Given No Progress on Strategic Alternatives Review Process “New” Board Is More of the Same Lone Star Value Management, LLC (together with its affiliates, “Lone Star Value”, “we”, or “us”) is a significant, long-term shareholder of…

Discovery Group Files 13D on INAP

Purpose of Transaction The Reporting Persons acquired beneficial ownership of the shares of Common Stock reported herein as part of their investment activities on behalf of Discovery Equity Partners. The Reporting Persons acquired the shares of Common Stock reported herein because they believe that the trading prices of the Common Stock do not adequately reflect…

FNFV Withdraws IPO; Spin Off J. Alexander Instead

VIA EDGAR AND OVERNIGHT DELIVERY U.S. Securities and Exchange Commission Division of Corporation Finance 100 F Street, N.E. Washington, D.C. 20549-3720 Attention: Justin Dobbie, Legal Branch Chief   Re: J. Alexander’s Holdings, Inc. Request for Withdrawal of Registration Statement on Form S-1 (File No. 333-199643) Ladies and Gentlemen: Pursuant to Rule 477 promulgated under the Securities Act…

AINC Looking to Acquire Remington

Item 4 of the Original Schedule 13D is hereby amended and restated to read in its entirety as follows: The Reporting Person, directly or indirectly through certain affiliates, acquired the Securities through the Transaction and for investment purposes. As a result of the Reporting Person’s position as Chief Executive Officer of the Issuer and as…

Vertex Discloses Stake in ESIO

Purpose of Transaction. The Reporting Persons acquired the Shares based on the Reporting Persons’ belief that the Shares, when acquired, 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 purchase or sale…

Maguire Sends Letter to Cash-Burning Novatel

Dear Alex, Thank you for taking the time to meet with me in New York on Wednesday, June 17th. As I mentioned, Maguire Asset Management recently purchased an additional 934,000 shares which brings our total holdings in Novatel to 3,393,943 shares. We increased our position because we believe the Company has a tremendous opportunity to…

Darden to Spin Off REIT

Darden Restaurants, Inc. announced that its Board of Directors approved a strategic real estate plan to pursue a separation of a portion of the Company’s real estate assets.  The separation would be achieved through a combination of selected sale leaseback transactions and the transfer of a portion of its remaining real estate assets to a new…

Roumell Joins Rosetta Stone Chorus

June 22, 2015  Board of Directors Rosetta Stone, Inc. 1919 N. Lynne Street, Suite 700 Arlington, VA 22209-1743  Dear Board of Directors:  Roumell Asset Management, LLC owns over 5% of Rosetta Stone’s (RST) outstanding shares. We are patient, long-term investors in well-capitalized out-of-favor, overlooked and misunderstood securities. We believe RST fits nicely in our portfolio…

Sorin Capital Wants NYRT Sold

June 16, 2015 Michael A. Happel Chief Executive Officer and President New York REIT, Inc. 405 Park Avenue New York, New York 10022 cc:  Board of Directors Dear Michael: Thank you for meeting with Sorin Capital Management to discuss our concerns regarding the substantial gap that has developed between the common stock share price of New…

BioScrip Announces Terms of its Rights Offerng

BioScrip, Inc. has set the record date for the previously disclosed upcoming rights offering as of the close of business June 25, 2015. The company expects the rights offering will commence no later than June 30, 2015 and conclude by the end of July 2015. On the commencement date, or as soon as practicable thereafter, the…

Franklin Resources Wants Axiall on the Block

The Investment Management Subsidiaries acquired the Common Stock on behalf of the Clients for investment. The Investment Management Subsidiaries believe that the Issuer is significantly undervalued and its Board of Directors should be more aggressive in taking actions to increase stockholder value. Despite the issuer’s “strategic” rationale behind the acquisition of PPG’s Chlor- Alkali business…

Williams to Look at Strategic Alternatives

Williams has authorized a process to explore a range of strategic alternatives following receipt of an unsolicited proposal to acquire Williams in an all-equity transaction at a stated per share price of $64.00. The unsolicited proposal was contingent on the termination of Williams’ pending acquisition of Williams Partners L.P. With the assistance of its outside financial…

Iroquois Goes Activist on LRAD, Again

June 22, 2015 LRAD Corporation 16990 Goldentop Road, Suite A San Diego, CA 92127 Attn: Members of the Board of Directors Dear Board Members, Iroquois Capital Management, LLC (“Iroquois Capital”, “we” or “us”) manages investment funds that, together with its affiliates, collectively own approximately 5.7% of the outstanding common stock (including shares underlying certain warrants)…

Vertex Has Concerns About Maxwell Technologies

Item 4 is hereby amended and restated in its entirety to read as follows: 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…

Get insights in your inbox with the Oozing Alpha monthly newsletter.
Join Now!
Newsletter