Monthly Archives: April 2018

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Autoliv Files Form 10 for Veoneer Spin

Dear Autoliv, Inc. Stockholder: On December 12, 2017, we announced that, following the conclusion of a strategic review by our Board of Directors, we intend to spin-off our Electronics business segment, creating a new, independent publicly traded company called Veoneer, Inc. (“Veoneer”). Over the last decade, our Electronics business has grown and matured next to our world leading…

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Cannell Shares Data with Digirad

Purpose of Transaction Mr. Cannell, on behalf of the Investment Vehicles, identified the Company as an entity satisfying each Investment Vehicle’s investment criteria. The Investment Vehicles acquired and continue to hold the Shares as a long-term investment. See Exhibit 99 for disclosure of a recent communication with the Company’s Board of Directors. Above and beyond…

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Marathon Sends Letter to J. Alexander

Purpose of Transaction. Item 4 is hereby amended to add the following: On April 24, 2018, Marathon Partners delivered a letter to the Chairman of the Issuer’s board of directors (the “Board”) restating its belief that the appointment of new independent directors and the engagement of an investment bank to evaluate strategic alternatives would be…

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M&G Frustrated with Methanex

Purpose of Transaction. The Reporting Persons have been supportive shareholders since 2007 but have become repeatedly frustrated with the market valuation of the Issuer, which the Reporting Persons believe does not reflect the Issuer’s intrinsic value. The Reporting Persons are supportive of the current progressive dividend policy of the Issuer, but given the current share…

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Henry Schein to Spin-Merge Animal Health

MELVILLE, N.Y. and PORTLAND, Maine, April 23, 2018 /PRNewswire/ — Henry Schein, Inc. (Nasdaq: HSIC) and Vets First Choice announced plans today for Henry Schein to spin off its Animal Healthbusiness and merge it with Vets First Choice, creating an innovative approach to advancing the delivery of animal health care designed to provide unique benefits to veterinarians, manufacturers, pet owners, and their…

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JANA Sees Value in Pinnacle Foods

PURPOSE OF TRANSACTION.   The Reporting Persons acquired the Shares because they believe the Shares are undervalued and represent an attractive investment opportunity. JANA, with the assistance of the other Reporting Persons, intends to have discussions with members of the Issuer’s board of directors (the “Board“) and management team regarding value creation measures including (i)…

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Barington Goes Activist on Xerium

Purpose of Transaction. The Reporting Entities acquired beneficial ownership of the shares of Common Stock to which this Statement relates in order to obtain a significant equity position in the Company, the Common Stock of which, in the opinion of the Reporting Entities, was undervalued and represented an attractive investment opportunity when purchased. The Reporting…

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Breitburn Emerges from Ch11 as Maverick

LOS ANGELES–(BUSINESS WIRE)–Maverick Natural Resources, LLC (“Maverick”), announced today that it began operating on April 6, 2018, after it emerged from Chapter 11 as the successor to Breitburn Energy Partners LP (“Breitburn”). Maverick is majority-owned and controlled by funds and accounts managed by EIG Global Energy Partners (“EIG”). As a result of the restructuring process,…

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Genuine Parts to Spin Off Unit in Merger

Essendant And Genuine Parts Company’s S.P. Richards Business To Combine To Form Stronger, More Competitive National Business Products Distributor Creates Combined Company with Enhanced Ability to Serve Customers Through Improved Scale and Expanded Service Capabilities Expected to Deliver Approximately $75 Million in Annual Run-Rate Synergies and Establish Enhanced Financial Profile to Drive More Profitable Growth…

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Mudrick Offers Liquidity to Globalstar

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…

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Tenneco to Split into Two Cos

Aftermarket & Ride Performance Company; Powertrain Technology Company Transformational acquisition accelerates long-term value creation by creating two focused, purpose built industry leaders in their respective markets with greater scale, and strategic and financial flexibility. Brings together complementary businesses – the aftermarket and ride performance company will include Tenneco Ride Performance and Federal-Mogul Motorparts, and the…

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Elliott Assoc Wants Action at Telecom Italia

PURPOSE OF TRANSACTION   The Reporting Persons believe the securities of the Issuer are undervalued and represent an attractive investment opportunity.  The Reporting Persons believe that the Issuer’s governance, valuation, strategic direction and relationships with Italian authorities would be improved by replacing certain members of the board with new, fully independent and highly qualified directors. In…

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Va Partners Goes Active on SLM Corp.

Item 4. Purpose of Transaction The responses to Items 3, 5 and 6 of this Schedule 13D are incorporated herein by reference. The Reporting Persons have had and anticipate having further discussions with officers and directors of the Issuer in connection with the Reporting Persons’ investment in the Issuer. The topics of these conversations will…

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FCA to Spin Off Magneti Marelli

FCA Announces Plans to Separate Magneti Marelli The Board of Directors of Fiat Chrysler Automobiles N.V. (“FCA”) (NYSE: FCAU /MTA: FCA) announced today that it has authorized FCA management to develop and implement a plan to separate the Magneti Marelli business from FCA and to distribute shares of a new holding company for Magneti Marelli…

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Ategra Sends Hawthorn a Letter

Purpose of Transaction. The Shares held by the Reporting Persons were acquired for investment purposes in the ordinary course of the Reporting Persons’ investment activities. The Reporting Persons have engaged in discussions with the Board of Directors of the Issuer regarding the Issuer’s financial performance and prevailing market trends impacting community banks. On April 4,…

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Pentair Spinoff nVent to Trade May 1

LONDON, United Kingdom – April 3, 2018 – Pentair plc (NYSE: PNR) (“Pentair”) today announced its board of directors has approved the previously announced spin-off of its Electrical business.  The transaction will result in two independent, publicly traded companies: Pentair plc and nVent Electric plc (“nVent”).  nVent ordinary shares are expected to begin trading on the…

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EV Energy Partners Files Chapter 11

HOUSTON, April 02, 2018 (GLOBE NEWSWIRE) — On March 14, 2018, EV Energy Partners, L.P. (NASDAQ:EVEP) and its subsidiaries (collectively, “EVEP” or the “Company”) announced that the Company entered into a restructuring support agreement (“RSA”) with certain holders of approximately 70 percent of its 8.0% senior notes due 2019 (the “Senior Notes”) and lenders holding approximately 94 percent of the…

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HG Vora in Talks with Lasalle Hotel Prop

Purpose of Transaction. The Reporting Person acquired the Common Stock for investment purposes in the ordinary course of business and presently holds approximately 7.1% of the Issuer’s Common Stock. The Reporting Person has engaged, and may continue to engage, in communications with the management of the Issuer, and intends to engage in communications with the…

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Elliott Assoc Sends Letter to Commvault

PURPOSE OF TRANSACTION   The Reporting Persons believe the securities of the Issuer are undervalued and represent an attractive investment opportunity.  The Reporting Persons believe that the Issuer requires fundamental changes throughout its business and that the Issuer can significantly improve shareholder value through operational initiatives, capital allocation changes and enhanced management and Board of Directors…

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Braeside Files 13D on Spok Holdings

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…