65 documents showing 1–60
Toyota Industries Corporation 6201.T
Toyota Real Estate's ¥18,800 TOB undervalues Toyota Industries by 39% versus NAV and 85% on core business; shareholders should refuse to tender and pursue a standalone plan instead.
Toyota Industries Corporation 6201
Toyota Industries' ¥18,800 take-private undervalues the company by 39%; shareholders should reject the tender and pursue a Standalone Plan worth >¥40,000 per share.
Toyota Industries Corporation 6201
Toyota Industries' ¥18,800 take-private undervalues NAV ¥26,134 by 40%; rejecting the TOB and executing Elliott's Standalone Plan unlocks >¥40,000 per share by 2028.
Toyota Industries Corporation 6201
Toyota Fudosan's ¥18,800 squeeze-out of Toyota Industries undervalues NAV by ~40%; reject the TOB and back Elliott's Standalone Plan targeting >¥40,000 per share by 2028.
UniFirst Corporation UNF
Engine urges UniFirst's independent directors to form a special committee and force a sale — the Croatti family's rejection of four Cintas bids has already cost shareholders ~$1.3B.
UniFirst Corporation UNF
UniFirst is stagnating under Croatti trustee stewardship that rejected a premium Cintas bid; Engine demands a sale, board refresh, and fair proxy process to unlock value.
Aurora Innovation, Inc. AUR
Aurora's autonomous trucking vision is a dead end: tech can only enable hub-and-spoke freight, drayage kills the economics, and the real TAM is smaller than the company's $13bn market cap.
Forward Air Corporation FWRD
Ancora urges FWRD shareholders to vote AGAINST Chair Mayes, Polit, and Tucker — the directors behind the disastrous 2023 Omni acquisition that destroyed ~80% of equity value — to force an expedited sale.
Keisei Electric Railway 9009
Keisei trades at a 39% discount because its US$5bn OLC stake masks chronic underperformance; capping it below 15% plus a refreshed 11-member board unlocks US$3bn.
Vishay Precision Group VPG
VPG is the unnoticed picks-and-shovels supplier of precision sensors to Tesla's Optimus humanoid program; at $300M market cap and 0.9x book, Wall Street has completely missed the asymmetric upside.
FTAI Aviation, Ltd. FTAI
An FTAI Aviation Module Factory box appears in an Iranian MRO's LinkedIn posts, suggesting FTAI may have indirectly violated U.S. OFAC sanctions on Iran.
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.
FTAI Aviation Ltd. FTAI
FTAI is a dressed-up engine-leasing business posing as a high-margin MRO — whole-engine sales counted as three modules and intra-segment depreciation transfers fabricate the aerospace-aftermarket story.
Red Cat Holdings, Inc. RCAT
Red Cat's $1bn valuation rests on inflating a $23M/year Army drone contract into a $350M sole-source bonanza, with a factory that can't scale and insiders heading for the exits.
Southwest Airlines LUV
Southwest's board lacks the airline-operator experience needed to lead a turnaround
Southwest Airlines Co. LUV
Southwest is the most compelling airline turnaround opportunity in two decades
Southwest Airlines LUV
Southwest management has destroyed more value through inaction than anyone in the industry
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
Southwest Airlines LUV
Southwest is the most compelling airline turnaround opportunity in two decades
Southwest Airlines Co. LUV
Shareholders lost more than 50% over three years under Kelly and Jordan
Southwest Airlines LUV
Eighth guidance cut in 18 months proves leadership cannot deliver
Southwest Airlines LUV
Southwest has the worst margins of any major U.S. airline under a 74-year legacy leadership team; a new outside CEO, refreshed board and modernized commercial strategy can deliver a $49 share price, 77% upside.
Southwest Airlines LUV
Southwest lost 50%+ of market value in 3 years while peers thrived
Southwest Airlines LUV
Southwest lost 50%+ of market value and EV is below the value of its aircraft alone
Southwest Airlines LUV
Southwest's outdated strategy collapsed margins from best-in-class 21% to worst-in-class 8%
Southwest Airlines LUV
Share price down >50% over 3 years; 2024 EBITDAR tracking ~50% below 2018 despite record industry revenues
Norfolk Southern NSC
Cleveland-Cliffs CEO publicly endorses Ancora's Norfolk Southern proxy fight, citing Cliffs' own 2014 board-overhaul win as proof that disciplined activism creates durable value.
Keisei Electric Railway Co., Ltd. 9009.T
Palliser, a 1.6% holder, asks Keisei shareholders to vote on an advisory resolution forcing the board to publish a capital allocation plan and cut its OLC cross-holding below 15% by March 2026.
Norfolk Southern NSC
Norfolk Southern is the only Class I rail without PSR; electing Ancora's seven nominees replaces Alan Shaw with Barber and Boychuk to redesign the network and reach $420/share.
Norfolk Southern Corporation NSC
Norfolk Southern is the worst-performing Class I railroad under Alan Shaw; replacing the Board and installing UPS/CSX operators to run PSR closes the 780bps OR gap and unlocks $420 per share.
Norfolk Southern NSC
Norfolk Southern is the worst-performing Class I railroad under CEO Alan Shaw's failed 'resilience railroading'; elect Ancora's slate to install Jim Barber as CEO, adopt true PSR, and unlock ~60% upside.
Norfolk Southern Corporation NSC
Norfolk Southern's safety and operating failures — epitomized by the preventable East Palestine derailment — require replacing CEO Alan Shaw and reconstituting the Board with independent nominees.
Keisei Electric Railway 9009 JT
Keisei's 22% stake in Oriental Land hides $4.5bn of value; right-sizing it below 15% and adopting a capital allocation framework unlocks 76% upside for shareholders.
Forward Air Corporation FWRD
Forward Air's $3.2B Omni Logistics deal destroys shareholder value; block the deal, replace CEO Tom Schmitt and the Board, and shares rerate to $140-$145.
Vitesco Technologies VTSC
Vitesco trades at €2.6B EV — less than its ICE business alone is worth (€2.9-4.3B at peer multiples); buy the stock and get the high-growth EV-powertrain unit for free.
Union Pacific Corporation UNP
UNP owns the best Class I rail franchise but ranks worst on every metric under CEO Lance Fritz; bringing back operator Jim Vena could double the stock to ~$400 by 2025.
Airbus SE AIR
TCI urges Airbus to abandon the 29.9% Evidian stake — a value-destructive, politically-motivated bailout of Atos that distracts management from fixing aircraft delivery shortfalls.
Ritchie Bros. Auctioneers RBA
Back the amended RBA-IAA merger: $350-900M of synergies, a Starboard/Ancora-refreshed board, and Luxor's anti-deal case is flawed — RBA should re-rate from $62 to ~$130.
Mercury Systems, Inc. MRCY
Rights Plan is not in the best interests of Mercury Systems shareholders
Astra Space, Inc. ASTR
Astra is a SPAC-bubble rocket company with no revenue, an undersized non-reusable vehicle, and fantastical 300-launch-a-year forecasts; shares should tumble back to the ground.
Canadian National Railway CNI
CN, once the best-run Class I railroad, is now the worst under CEO Ruest; abandon the KCS deal and install Jim Vena to restore operational excellence.
Solutions 30 S30
EY's refusal to sign Solutions 30's 2020 audit — after S30 blocked access to information on suspect transactions — confirms Muddy Waters' two-year-old fraud and money-laundering thesis.
XL Fleet XL
XL Fleet's March 8 rebuttal fails to deny Muddy Waters' core claims — exaggerated pipeline, ~10% reorder rate, overstated fuel savings — confirming XL is SPAC trash.
XL Fleet Corp XL
XL Fleet is SPAC trash: salespeople were paid to fabricate pipeline, most touted customers are inactive, ROI is actually negative, and the stock is worth a fraction of its billion-dollar SPAC valuation.
Forward Air Corporation FWRD
Forward Air's acquisition-led growth strategy has decimated its core LTL margins; Ancora's nominees will restore operating discipline and unlock ~50% upside to $130-$135/share.
Ferrovial FER
TCI, a ~1% shareholder, commends Ferrovial's CDP 'A' grade but presses for stronger SBTI-aligned targets, RE100 membership, and leadership in de-carbonising aviation and road transport.
Canadian Pacific Railway CP
TCI, owner of ~8% of Canadian Pacific, demands the railroad close its CDP climate-disclosure gap versus peers CN and UNP and adopt a credible science-based transition plan.
Airbus AIR
TCI, a 1.5% Airbus shareholder since 2012, demands stronger climate disclosure, an A-grade CDP score, and Airbus leadership in mandating low-carbon synthetic aviation fuels — or TCI will vote against directors.
Ferguson plc FERG
Ferguson is a US specialty distributor trapped in a UK listing; demerging Wolseley and relisting in the US closes a 10.4x-vs-17.2x EBITDA peer gap.
AECOM ACM
AECOM is a collection of under-integrated franchises; a Jacobs-style operational overhaul plus outright sales of MS and CS can close a 5.3x multiple discount to peers.
OSI Systems OSIS
OSIS's rebuttal fails: S2 Albania's financials prove ICMS contributed no capital, making its 49% concession stake an unjustified conduit for corruption and confirming management's lost credibility.
Ballard Power Systems BLDP
Ballard's 167% 2017 rally rests on a fragile China fuel-cell story with weak partners and zero insider skin; expect a repeat of the Azure failure and 35-70% downside to $1.15-$2.50.
OSI Systems, Inc. OSIS
OSIS is rotten to the core: the Albania concession was obtained via an apparent bribe, the Mexico turnkey is egregiously priced and up for renewal, and FCPA liability could erase a large chunk of the $1.6bn market cap.
Arconic Inc. ARNC
Arconic CEO Kleinfeld's veiled-extortion letter to Paul Singer forces his ouster; Elliott demands independent investigation, removal of complicit directors, and protection from whatever scheme Kleinfeld set in motion.
Arconic Inc. ARNC
Arconic shareholders lost ~70% of their value; CEO Kleinfeld is one of the worst-performing tenured CEOs in the U.S.
Nidec Corp. 6594 JP
Nidec is a gigantic stock promotion: zero organic growth and aggressive accounting hide behind a Facebook-like multiple — fair value JPY 4,764, ~52% downside.
General Electric GE
GE has quietly pivoted to a focused industrial post-GE Capital exit; executing 16% margins, prudent leverage and ~$100bn of buybacks gets the stock to $40-$45 by end-2017.
AerCap Holdings AER
AerCap, the largest independent aircraft lessor, trades at 8.5x earnings; the equity should rerate as the credit markets already have post-ILFC deal, supported by low-teens ROE and ~10% EPS CAGR.
FirstGroup plc FGP
FirstGroup's post-Laidlaw complexity and high-cost debt have crushed returns; spinning FirstGroup US to yield-hungry US investors, selling Greyhound, and right-sizing the balance sheet unlocks up to 191p.