413 documents showing 241–300
GCP Applied Technologies GCP
Starboard rebuts GCP: stock has lagged peers on every milestone since the 2016 spin-off, and Starboard's superior director slate can finally drive the turnaround management hasn't delivered.
GCP Applied Technologies GCP
Four years post-spinoff, GCP has lagged peers on growth, margins, and stock price under an insular, interconnected Board; replace nine directors and unlock ~600 bps of EBIT margin expansion.
Bristol-Myers Squibb Company BMY
Starboard urges BMY shareholders to reject the $91B Celgene acquisition — it imports a massive REVLIMID patent cliff and was rushed through without exploring standalone turnaround or a sale of Bristol-Myers.
Magellan Health, Inc. MGLN
Magellan destroyed $700M of value through failed acquisitions and three 2018 guidance cuts; Starboard's six-director slate will overhaul the board and run a parallel sale process at peer multiples.
Dollar Tree, Inc. DLTR
Dollar Tree is deeply undervalued because Family Dollar is a failed acquisition and the $1 price ceiling is a self-imposed cap; selling Family Dollar and testing multi-price points unlocks $150/share.
Cars.com Inc. CARS
Starboard, a ~10% holder, warns Cars.com's board that serial guide-downs must end with credible 2019-2021 targets, a third independent director, and — absent improvement — management change or a sale.
Dell Technologies (Class V / DVMT tracking stock) DVMT
Dell's $109 buyout of the DVMT tracker is really $90 — a 42% discount engineered to transfer $11bn from public holders to Michael Dell and Silver Lake. Vote no.
PPG Industries, Inc. PPG
PPG has underperformed peers by 3,500 bps under CEO McGarry; Trian wants Chuck Bunch reinstalled, the balance sheet levered, and the portfolio split into Architectural and Industrial to unlock ~40% upside.
Campbell Soup Company CPB
Campbell's incumbent board delivered 19% TSR vs 306% S&P over 20 years; replace the entire board with Third Point's Independent Slate to unlock $52-58/share via turnaround, breakup, or sale.
Nestlé S.A. NESN
Nestlé has been too slow to adapt to a changing consumer industry; adopting a #NestléNOW mindset — sharper strategy, bolder portfolio divestitures including the L'Oréal stake, and a three-division split — can double EPS by 2022.
SandRidge Energy SD
SandRidge trades at a ~45% discount to its own PV-10 because the post-bankruptcy 'bankruptcy board' destroys value via dilutive deals; replace it with Icahn's slate to run a real sale process.