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
PSX has underperformed peers for a decade and the CEO is talking down the stock
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
Streamline 66 plan could boost Phillips 66 stock 65%+ (from $120 to $200)
Phillips 66 PSX
Phillips 66 trades at $120 vs. Elliott's $200 Streamline 66 target — 65% upside
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
Phillips 66 has persistently underperformed peers, requiring new Board perspectives
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 stuck at ~40% NAV discount with no take-private bidder after 284 investors approached
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+.
Phillips 66 PSX
Conglomerate structure hides a Midstream worth >$40bn standalone; market gives refining ~$1bn of credit
Phillips 66 PSX
Inefficient conglomerate structure trades like a refiner despite ~40% of EBITDA from midstream
Pershing Square Holdings (self) PSH.NA / PSHD.LN
PSH trades at a 30% discount to NAV despite 22.9% 7-year compound NAV returns
Uber Technologies UBER
29x P/E understates a 30%+ EPS grower; share price likely to more than double 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 and Freddie Mac FNMA / FMCC
Treasury's warrants and residual stake could generate ~$300bn for taxpayers over time
Fannie Mae & Freddie Mac (GSEs) FNMA / FMCC
Releasing GSEs from conservatorship could generate ~$300bn for taxpayers via Treasury warrants
Fannie Mae and Freddie Mac FNMA/FMCC
Fannie Mae and Freddie Mac FNMA/FMCC
Howard Hughes Holdings Inc. HHH
14-year total return of only 35% (2.2% CAGR) shows market refuses to recognize HHH's value
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
Southwest's board lacks the airline-operator experience needed to lead a turnaround
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
Southwest is the most compelling airline turnaround opportunity in two decades
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
Southwest management has destroyed more value through inaction than anyone in the industry
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.
BP Plc BP
Renewables strategy is a series of U-turns with no consistency
Southwest Airlines LUV
Worst-performing management team in airlines has destroyed more value than any peer
Southwest Airlines Co. LUV
Management and Board are entrenching via poison pill and defensive maneuvers instead of accepting accountability
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 LUV
Southwest is the most compelling airline turnaround opportunity in two decades
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.