Monthly Archives: September 2015

Starboard to Present AAP at C4K Sohn

Starboard Value LP (together with its affiliates, “Starboard”) today announced that it has acquired a 3.7% ownership stake in Advance Auto Parts, Inc. (AAP) (“Advance” or the “Company”), and has released a presentation on Advance that it will be making at today’s C4K Sohn Canada Conference 2015 in Toronto.  Starboard also announced that it has delivered…

Alcoa to Split into Two

Alcoa is today announcing that its Board of Directors has unanimously approved a plan to separate into two independent, publicly-traded companies.  The transaction is expected to be completed in the second half of 2016. At that point Alcoa shareholders will own all of the outstanding shares of both the Upstream and Value-Add Companies. The separation is…

Omega Protein to Explore Strategic Alternatives

Omega Protein Corporation, a nutritional product company and provider of specialty oils, essential fatty acids and specialty protein products, announced that its Board of Directors is in the process of a review of strategic alternatives to enhance shareholder value, including a possible share repurchase program, sale, merger, spin-off or other separation of a selected business…

Group 42 Thinks Vaalco is Undervalued

Item 4. 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 that would make the purchase or…

Top Pick WMIH to List on NASDAQ.. Finally!

WMIH Corp. (WMIH) announced that it has received approval to list its shares of common stock (the “Common Stock”) on the NASDAQ Capital Market. The shares of Common Stock are expected to commence trading on the NASDAQ Capital Market on Monday, September 28, 2015 under the symbol “WMIH.” The Company will continue to trade on the OTC…

Ashland to Split into Two Cos

Ashland Inc. today announced that its board of directors has approved proceeding with a plan to separate Ashland into two independent, publicly traded companies. Today`s announcement follows a comprehensive strategic planning review by the company`s global leadership team to better understand Ashland`s markets, customers and the opportunities for each business to create the most value…

Lawson Wants Anchor Bancorp Sold

On September 18, 2015, the Reporting Person delivered a letter to the Issuer nominating Joel S. Lawson IV for election to the Board of Directors of the Issuer (the “Board”) at the 2015 annual meeting of shareholders (the “2015 Annual Meeting”). On September 21, 2015, the Reporting Person issued an open letter to the Issuer’s…

Windstream Adopts Poison Pill to Protect NOLs

Windstream Holdings, Inc. has adopted a shareholder rights plan. The Rights Plan is designed to protect Windstream’s valuable net operating loss carryforwards (NOLs) from the effect of limitations under Section 382 of the Internal Revenue Code, which could result in significant restrictions on the value of the NOLs. As of June 30, 2015, Windstream had over…

Air Products to Spin Off Materials Unit

Air Products today announced that its Board of Directors has approved the intention to fully separate its Materials Technologies business via a tax-free spin-off to its shareholders.  The targeted completion of the Materials Technologies spin-off is before September 2016, subject to typical regulatory approvals. This strategic decision will allow Air Products’ Industrial Gases and the…

Boradfin Rips Cardica’s Board

September 11, 2015 Dear fellow shareholders: As previously disclosed, on Friday, September 4, we filed a notice of our intent to nominate eight candidates for election to the Board of Directors (the “Board”) of Cardica, Inc. (the “Company” or “Cardica”) at Cardica’s 2015 annual meeting of shareholders, including three existing independent directors, four additional independent…

MSG Spin to Trade When-Issued Sep 17

The Madison Square Garden Company has approved the spin-off of its sports and entertainment businesses from its media business. Upon completion of the transaction, MSG will be a standalone media company and will change its name to MSG Networks Inc. and the newly formed sports and entertainment company will be called The Madison Square Garden Company….

Nathan’s Commences Dutch Tender for Shares

Nathan’s Famous, Inc. will commence mailing to its stockholders on or about  September 18, 2015 a modified Dutch Auction tender offer to purchase for cash up to 500,000 shares of its common stock, $.01 par value, at a price per share of not less than $33.00 nor greater than $36.00, for a maximum aggregate purchase price of…

JCP Points to Governance Failure at Casella

JCP Investment Management, LLC 1177 West Loop South, Suite 1650 Houston, Texas 77027 713.333.5540 September 10, 2015 Dear Members of the Board: JCP Investment Management, LLC (“JCP”) currently owns 2,286,670 Class A shares or 5.72% of the issued and outstanding Class A common stock of Casella Waste Systems, Inc. (“Casella” or, the “Company”), making us one…

Praesidium Offers Flotek Advice

September 9, 2015 Board of Directors Flotek Industries, Inc. 10603 W. Sam Houston Parkway N., Suite 300 Houston, Texas 77064 Dear Members of the Board of Directors: Praesidium Investment Management Company, LLC (“Praesidium” or “we”) on behalf of its clients, currently beneficially owns approximately 5.2% of the outstanding shares of common stock of Flotek Industries, Inc….

Lloyd Miller Sees Value in Sycamore

Purpose of the Transaction The shares of Common Stock covered by this Schedule 13D were acquired by Mr. Miller for investment purposes in the ordinary course of his business as an investor. Mr. Miller now believes that it would be in his best interests, and those of other shareholders, to attempt to influence the governance…

Broadfin Still Unhappy with Cardica Board

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 that would make the purchase or sale of…

Sessa Capital Highlights Conflicts at Ashford Inc.

    1350 Avenue of the Americas, Suite 3110 New York, NY 10019    |    212.257.4410 September 1, 2015 Board of Directors c/o Mr. Curtis B. McWilliams, Lead Director Ashford Hospitality Prime, Inc. 14185 Dallas Parkway, Suite 1100 Dallas, TX 75254 Members of the Ashford Hospitality Prime Board of Directors, Sessa Capital is the third largest holder of Ashford Hospitality Prime, holding…

H&R Block to Dutch Tender for Shares

H&R Block, Inc., consumer tax services provider, today announced that it is commencing its previously announced “modified Dutch auction” tender offer for up to $1,500,000,000 of its common stock at a price per share not less than $32.25 and not greater than $37.00. The tender offer will expire at 5:00 P.M., New York City time,…