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Marathon Sends Letter to e.l.f. Beauty’s Board

Purpose of Transaction. Item 4 is hereby amended to add the following: On September 12, 2018, Marathon Partners delivered a letter (the “Letter”) to the Issuer’s CEO and Chairman of the board of directors (the “Board”) recommending, among other things, that the Board pursue cost-cutting measures that focus on profitable growth or strategic alternatives, including…

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Ex PM Pushing for Changes at Destination XL

September 11, 2018 Glenn J. Krevlin 600 Fifth Avenue, 11 FL New York, NY 10020 Corporate Secretary Destination XL Group, Inc. 555 Turnpike Street Canton, MA 02021 To the Board of Directors: I have had an equity interest in Destination XL Group Inc. (“DXLG” or the “Company”) since 2001, actively listening to nearly every earnings call…

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Australian Brambles to Separate IFCO

Sydney – 24 August 2018: Brambles has today announced that following a strategic review of its portfolio, it intends to pursue a separation of its IFCO RPC business through a demerger. To ensure optimal shareholder value is achieved, a sale of IFCO will also be evaluated. The separation of IFCO from Brambles will optimise shareholder…

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DowDuPont Files Form 10 for Dow Holdings

Dear DowDuPont Stockholder: As previously announced, DowDuPont Inc. (“DowDuPont”) intends to separate into three independent, publicly traded companies—one for each of its agriculture, materials science and specialty products businesses. We are pleased to inform you that on [●], our board of directors approved the first step in this plan: the separation of our materials science…

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SERV Announces Terms for Frontdoor Spin-Off

ServiceMaster Board Approves Spin-Off of Frontdoor   § Company establishes record date of September 14, 2018 § Shares of Frontdoor, the parent of American Home Shield, are expected to begin trading on NASDAQ under the symbol FTDR on October 1, 2018   MEMPHIS, TENN. — August 27, 2018 — ServiceMaster Global Holdings, Inc. (NYSE: SERV), a leading…

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KLX Announces Spinoff Terms

WELLINGTON, Fla., Aug. 24, 2018 (GLOBE NEWSWIRE) — KLX Inc. (“KLX” or the “Company”) (NASDAQ: KLXI) announced today that KLX stockholders voted in favor of the proposal to adopt the previously announced Agreement and Plan of Merger, dated as of April 30, 2018 (the “Merger Agreement”), by and among KLX, The Boeing Company (“Boeing”) and…

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TCS Points to DHX Price Drop From $13 to $2

John Barter Chairman, Board of Directors DHI Group, Inc. 1040 Avenue of the Americans, Floor 8 New York, NY 10018   August 23, 2018 Dear Chairman Barter, As you know, we are the largest shareholder of DHI Group (“DHI” or the “Company”) and have closely followed the Company for nearly two decades. We are writing…

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Honewell Files Form 10 for Resideo Technologies

Dear Honeywell Shareowner: On October 10, 2017, we announced our intention to spin our Homes and ADI global distribution business. I am pleased to confirm that we expect to distribute shares in the new company, Resideo Technologies, Inc., before the end of the year. We will provide more details on this distribution as the effective spin…

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Honeywell Files Form 10 for Garrett Motion

Dear Honeywell Shareowner: On October 10, 2017, we announced our intention to spin our Transportation Systems automotive business. I am pleased to confirm that we expect to distribute to you shares in the new company, Garrett Motion Inc., at the end of the third quarter. Garrett will be listed on the New York Stock Exchange…

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Alesia Lays Out Case for PHI Sale

August 20, 2018 The Board of Directors of PHI, Inc. c/o of Al Gonsoulin, Chairman of the Board and CEO 2001 SE Evangeline Thruway Lafayette, LA 70508 Dear Members of the Board: We, Alesia Asset Management and Timothy Stabosz, collectively control 4.7% of the outstanding shares of PHIIK. We believe PHI is deeply undervalued and…

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VF Corp to Spin Off Jeans/Outlet Biz

GREENSBORO, N.C.–(BUSINESS WIRE)– VF Corporation (NYSE: VFC), a global leader in branded lifestyle apparel, footwear and accessories, today announced that its Board of Directors intends to separate the company into two independent, publicly traded companies: VF Corporation, a global apparel and footwear powerhouse, and a yet-to-be named company (NewCo), which will hold VF’s Jeans and…

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Perrigo to Separate Pharma Unit

DUBLIN, Aug. 9, 2018 /PRNewswire/ — Perrigo Company plc (NYSE; TASE: PRGO) today announced that its Board of Directors approved a plan to separate the Company’s Prescription Pharmaceuticals (Rx) business following the Company’s previously announced strategic portfolio review. Continuing its focus on enhancing shareholder value, the Board believes a separation of the Rx business will better enable this…

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LINN Energy Spins Off Riviera Resources

HOUSTON, Aug. 07, 2018 (GLOBE NEWSWIRE) — LINN Energy, Inc. (OTCQB: LNGG) (“LINN” or the “Company”) announced today that it has completed the previously announced spin-off of Riviera Resources, Inc. (“Riviera”) from LINN (the “Spin-Off”). Riviera is now an independent reporting company and is expected to begin trading on the OTC Market under the ticker symbol “RVRA” on August 8, 2018. Under…

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Legion Thinks NTRI is Misunderstood

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 Shares desirable,…

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Lilly to Separate Animal Health Unit

INDIANAPOLIS, July 24, 2018 /PRNewswire/ — Eli Lilly and Company(NYSE: LLY) today announced that the company has completed its strategic review of Elanco Animal Health, and will file a registration statement in the coming weeks with the U.S. Securities and Exchange Commission (SEC) for a potential initial public offering (IPO) of a minority ownership stake in Elanco as a separate company….

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LINN Energy Sets Date for Riviera Spin Off

HOUSTON, July 24, 2018 (GLOBE NEWSWIRE) — LINN Energy, Inc. (OTCQB:LNGG) (“LINN” or the “Company”) announced today that its Board of Directors (the “Board”) has unanimously approved the previously announced spin-off of Riviera Resources, Inc. (“Riviera”) from LINN (the “Spin-Off”). Following the Spin-Off and the transactions contemplated thereby, for each share of LINN common stock…

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Danaher to Spin Off Dental Unit

WASHINGTON, July 19, 2018 /PRNewswire/ — Danaher Corporation (NYSE: DHR) today announced its intention to spin off its Dental segment into an independent, publicly-traded company (“DentalCo”). The transaction is intended to be tax-free to Danaher shareholders and expected to be completed in the second half of 2019. “This is an important step towards realizing even greater potential…

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A Venezuelan Spin-Off, Anybody?

Dear Mercantil Servicios Financieros, C.A. Shareholder, On December 15, 2017, our shareholders voted to approve the separation of our subsidiary, Mercantil Bank Holding Corporation, or the Company, through a spin-off. We believe that Mercantil Servicios Financieros, C.A., which we call MSF, and the Company will be better-positioned, as separate, independent companies, to capture growth opportunities by operating with…

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Red Oak Critical of EDUC Governance

July 3, 2018 Educational Development Corporation 5402 South 122nd East Avenue Tulsa, OK 74146 Attention: Board of Directors Dear Members of the Board, As you are aware, Red Oak Partners, LLC (“Red Oak”) is a long-term shareholder of Educational Development Corporation (“EDUC” or the “Company”). Red Oak and funds under its control currently own 7.7% of…

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Autoliv Completes Veoneer Spin-Off

Autoliv, Inc. (NYSE: ALV and SSE: ALIVsdb) the worldwide leader in automotive safety systems, today announced the completion of the spin-off of its electronics segment, Veoneer, Inc. With the completion of the spin-off, Veoneer, Inc. will today begin regular way trading on the New York Stock Exchange and will begin trading on Nasdaq Stockholm as an…