495 documents showing 61–120

Phillips 66 PSX

Phillips 66's world-class refining assets are underperforming Valero and Marathon because leadership has lost operating focus; Elliott's GOLD-card nominees can restore peer-leading excellence.

Phillips 66 PSX

Phillips 66 has trailed Valero and Marathon by triple digits over a decade; an upgraded Board via Elliott's Gold Card slate is needed to end entrenchment and unlock value.

Phillips 66 PSX

Phillips 66's inefficient conglomerate structure hides $40B+ midstream value; spinning it off, refocusing on refining, and refreshing the Board could lift shares from ~$120 to $200+.

Phillips 66 PSX

Elliott's $2.5B Phillips 66 stake argues that unlocking midstream value, returning capital and upgrading the board can drive PSX from $120 to $200+, a 65% upside.

Phillips 66 PSX

Phillips 66's CEO is talking down his own stock after a decade of underperformance; Elliott's Streamline66 slate targets a $200+ share price via a sum-of-parts breakup.

Autodesk, Inc. ADSK

Autodesk's long-term share price and margin underperformance reflects a board incapable of holding management accountable; electing Starboard's three nominees installs oversight needed to drive non-GAAP operating margins to 41-42% by FY2028.

Phillips 66 PSX

Phillips 66 is deeply undervalued; Elliott's Streamline 66 plan and four new directors can deliver 65%+ upside by repeating the Marathon Petroleum playbook.

Phillips 66 PSX

Phillips 66 is worth $200 — 65% above today's $120 — if shareholders elect Elliott's slate and force the Streamline 66 simplification plan.

Phillips 66 PSX

Phillips 66's refining + midstream conglomerate has underperformed pure-play peers by up to 188% over a decade; separating the businesses would eliminate the structural discount.

Autodesk, Inc. ADSK

Autodesk has best-in-class 93% gross margins but bloated opex; disciplined cost cuts plus 55% incremental margins can lift adjusted operating margins to ~45% by FY2028.

Phillips 66 PSX

Phillips 66's conglomerate structure masks world-class midstream and chemicals assets; separating them, fixing refining, and refreshing the board closes a decade-long 188% TSR gap versus peers.

Phillips 66 PSX

Phillips 66's refining kit rivals Valero's, but weak commercial execution and bloated corporate leave a multi-dollar EBITDA-per-barrel gap that Streamline66 — portfolio fixes and a refreshed board — closes.

Phillips 66 PSX

Elliott escalates its Phillips 66 campaign by nominating seven independent directors and proposing annual board elections to force portfolio simplification, an operating review, and stronger oversight.

Kao Corporation 4452.JP

Kao is Japan's underperforming FMCG giant; adding five expert directors with FMCG, cosmetics and digital expertise plus performance-aligned pay can close the peer gap and revive growth.

Kao Corporation 4452 JT

Kao's world-class beauty brands are squandered by an insular Japanese board; adding five global FMCG outside directors and performance-linked pay can close the gap to L'Oreal and Beiersdorf.

United States Steel Corporation X

U.S. Steel has lagged peers by 227 points under Burritt; with the Nippon deal dead, Ancora's slate would install Stelco-turnaround CEO Kestenbaum to fix the company as a standalone public co.

Howard Hughes Holdings Inc. HHH

HHH trades at a 40% NAV discount with no take-private bidders; Pershing's $900M primary investment at $90 converts it into a modern-day Berkshire Hathaway.

Phillips 66 PSX

Phillips 66's conglomerate structure traps value; spinning Midstream, selling the CPChem JV, and fixing refining lifts the stock from $120 to ~$200, with Marathon-style execution reaching $300+.

Phillips 66 PSX

Phillips 66's conglomerate structure buries a world-class refiner and >$40bn midstream inside a low-multiple wrapper; spinning midstream, fixing refining and Marathon-style buybacks unlock $200-$300+ per share.

Pershing Square Holdings PSH

Fund-level recap: PSH's 22.9% seven-year NAV CAGR, conservative leverage and PSCM stake sale set up a narrowing of the persistent ~30% discount to NAV.

Phillips 66 PSX

Phillips 66's conglomerate hides world-class midstream worth $40bn+; spinning midstream, closing the $3.75/bbl refining gap to Valero, and refreshing the board can lift PSX from $120 to $200+.

Uber Technologies UBER

Uber is a high-quality, network-effect marketplace trading at 29x due to overblown AV fears; 30%+ EPS growth should more than double the stock in 3-4 years.

Smiths Group plc SMIN

Smiths' four-segment conglomerate structure masks a ~50-60% SOTP discount; the Board should launch a strategic review to sell the company or spin John Crane into a U.S. listing.

Fannie Mae / Freddie Mac FNMA / FMCC

Release Fannie and Freddie from conservatorship at a 2.5% capital standard and IPO them at ~$30+/share; Treasury's warrants generate ~$300bn while shares re-rate 5-6x from ~$6 today.

Fannie Mae and Freddie Mac FNMA/FMCC

Fannie Mae and Freddie Mac FNMA/FMCC

Fannie and Freddie have already repaid Treasury at an 11.6% IRR; releasing them from conservatorship via modest IPOs unlocks ~$300bn of warrant value for taxpayers within two years.

Fannie Mae and Freddie Mac FNMA/FMCC

Howard Hughes Holdings Inc. HHH

HHH has compounded at just 2.2% over 14 years; merging with Pershing Square Holdco at $85/share converts a market-orphaned real-estate company into a Berkshire-style permanent compounder.

Solventum Corporation SOLV

Solventum's post-spin performance collapse is nearly worst-in-class; restoring 3M-era 3-4% growth and 26% margins plus simplifying the portfolio can double shares to $140 by 2027.

Dye & Durham Limited DND

Engine Capital's six-member slate and OneMove's nominee will replace the entire Dye & Durham board after overwhelming shareholder support forced incumbent directors to resign.

Kao Corporation 4452

Kao's Nomination Committee rushed its 2025 AGM director slate two months early to bypass Oasis's five independent candidates — poor governance demanding a reopened, transparent process.

Kao Corporation 4452

Kao's world-class FMCG brands are stalling under a passive Board; Oasis, now holding over 5%, will nominate five independent FMCG directors at the March 2025 AGM to unlock global growth.

Amcor plc (pro forma Amcor-Berry Global combination) AMCR

The Amcor-Berry merger creates a $36B packaging leader; executing $650M of conservatively-estimated synergies and a re-rate from 8x to 11x EBITDA delivers ~$16/share, a 50-70% upside.

Kao Corporation 4452

Kao is a sleeping FMCG giant whose under-ambition, inefficiency, and lack of focus have destroyed EVA; adding five independent directors with FMCG operating experience can unlock peer-level returns.

Dye & Durham Limited DND

Dye & Durham's Board and CEO Matt Proud destroyed value chasing a $1bn EBITDA target through reckless M&A; Engine's six-director slate and new CEO can triple the share price to $46 in three years.

Rio Tinto RIO

Rio Tinto's 29-year-old dual-listed structure has destroyed ~US$50bn of value; unifying into a single Ltd-led entity unlocks +27% near-term upside and restores scrip-M&A firepower.

Dye & Durham Limited DND

Engine (7.1%) urges Dye & Durham shareholders to replace an entrenched board presiding over management exodus, regulatory investigations, and blocked deals with six independent nominees at the December 17 meeting.

Dye & Durham Limited DND

Engine, a 7.1% holder, nominates six directors to overhaul Dye & Durham's board, replace management, cut leverage to 3x, and close the valuation gap to ~20x EBITDA peers.

Public REIT sector (vs. private real estate)

Public REITs have crushed private real estate over 30 years (9.9% vs 7.0%); with institutions at GFC-low underweights and supply rolling over, listed REITs are a generational buy.

Peloton Interactive PTON

Peloton's overlooked subscription business — 68% gross margins, 1.5% churn — can deliver $400-500M EBITDA once costs are right-sized, implying a $7.50-$31.50 share price versus $5.48 today.

Southwest Airlines LUV

Elliott nominates David Cush, former Virgin America CEO, to Southwest's board as part of an eight-director slate to restore the airline's operational and financial performance.

BP Plc BP

Bluebell publishes ten pointed questions BP must answer at the 29 Oct 2024 Q3 call, demanding transparency on abandoned EBITDA, production and energy-transition targets and faulting Board oversight.

Dye & Durham Limited DND

Engine, owning 7.1% of Dye & Durham, will run a board slate at the 2024 AGM, arguing a refreshed board can close the 8x-vs-18x EBITDA peer gap.

Southwest Airlines Co. LUV

Elliott — ~11% owner of LUV — is running a proxy fight to replace Southwest's board with eight airline-veteran directors and restore the carrier to industry-leading performance.

BP Plc BP

BP's ideologically driven 2023 strategy has failed; the Chair and Lead Independent Director must go, and the leaked U-turn on oil output breaches listing rules.

Pfizer Inc. PFE

Pfizer destroyed $20-60bn of value since 2019 despite a $40bn COVID windfall; Starboard wants the board to hold Bourla accountable for peer-median R&D/M&A returns.

Salesforce, Inc. CRM

Salesforce has executed Starboard's 2022 thesis — margins up 1,000bps, stock +99% — but committing to Rule of 50 by FY2028 still unlocks $20+ FCF/share at ~14x.

Pfizer Inc. PFE

Pfizer squandered its $40bn COVID windfall on overpriced M&A while delivering almost none of the 15 promised blockbusters; the Board must hold management accountable.

Salesforce, Inc. CRM

Salesforce's 2022 turnaround delivered +1,000bps margins and +99% stock; Starboard argues further cost discipline plus Agentforce growth can hit the Rule of 50 by FY2028 and $20+ FCF/share.

Southwest Airlines LUV

Elliott, with ~11% of Southwest, calls the management team the worst in airlines and nominates ten independent directors to replace the CEO and restore industry-leading performance.

BP Plc BP

BP's 2020 energy-transition strategy is collapsing in serial U-turns and missed targets; removing Chairman Helge Lund and Lead Independent Director Amanda Blanc is essential to restore accountability.

Dye & Durham Limited DND

Engine urges Dye & Durham's board to hold its 2024 AGM in December per TSX rules, or face board changes over entrenchment, delay tactics, and CEO Proud's destructive M&A.

Southwest Airlines LUV

Southwest has become the industry's worst-performing airline under current leadership; Elliott nominates ten independent directors to replace the CEO and restore best-in-class performance.

Southwest Airlines Co. LUV

Southwest's failed leaders are using a poison pill and 'false record dates' to dodge accountability; Elliott will call a special meeting to replace the Board and CEO Bob Jordan.

Dye & Durham Limited DND

Court dismissal of OneMove litigation removes any remaining excuse to delay the Special Meeting

Upwork Inc. UPWK

Engine argues Upwork is undervalued at ~6.5x EBITDA and that a refreshed board plus fixing the marketplace, focusing Enterprise, cutting bloat and aggressive buybacks unlocks substantial upside.

Dye & Durham Limited DND

Dye & Durham's board broke its no-M&A pledge, re-levered to 5.3x, and lost six executives; shareholders need a Special Meeting and board change to close the peer valuation gap.

Southwest Airlines Co. LUV

Southwest is the most compelling airline turnaround in two decades; replacing the entrenched CEO and Board with Elliott's ten nominees restores efficiency, product, and reliability.

News Corporation NWSA

News Corp's dual-class structure entrenches a fractious Murdoch family with 14% economics but 41% of the vote; collapsing it would remove a governance discount already rejected by 90% of unaffiliated holders.

News Corporation NWSA

Starboard urges News Corp shareholders to vote to collapse the dual-class structure that gives the Murdoch family 41% voting power on only 14% economic ownership.