531 documents showing 421–480
Yahoo! Inc. YHOO
Yahoo should scrap the Aabaco spin-off and instead sell the Core Business outright, returning cash to shareholders and keeping Alibaba and Yahoo Japan stakes in the remaining entity.
CONSOL Energy CNX
Market prices CONSOL as a dying coal miner, but its Marcellus/Utica shale gas acreage plus disciplined management make it worth $35.81/share versus $7.40 today.
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.
Rovi Corporation ROVI
Rovi's entrenched board destroyed a decade of shareholder value while promising 'double-digit growth next year' every year; Engaged's nominees Lockwood and Rau bring operating credibility the incumbents lack.
E. I. du Pont de Nemours and Company DD
DuPont is a chronically underperforming conglomerate; electing Trian's four nominees forces structural review, cost cuts, and governance reform to unlock $120+/share by 2017 — a 21% IRR.
E.I. du Pont de Nemours and Company DD
DuPont is bottom-quartile under Ellen Kullman; electing Trian's four nominees unlocks $120/share by 2017 by cutting $2-4bn of excess corporate costs and ending 'crony' compensation.
E.I. du Pont de Nemours and Company (DuPont) DD
DuPont is a chronically underperforming conglomerate bloated with $2-4bn of excess costs; putting Trian on the board unlocks a $120+/share, 21% IRR path by 2017.
E.I. du Pont de Nemours and Company (DuPont) DD
DuPont is a chronic underperformer under CEO Kullman; electing Nelson Peltz and three nominees unlocks $2-4bn of excess costs and drives DuPont stock to $120 by 2017 (21% IRR).
E. I. du Pont de Nemours and Company DD
DuPont's consolidated structure masks ~86% upside; separating GrowthCo, Performance Chemicals, and CyclicalCo/CashCo plus peer-level margins delivers an implied $122 target value by end-2017.
E.I. du Pont de Nemours and Company DD
DuPont is a bloated conglomerate hiding $2-4bn of excess corporate costs and crony compensation; Trian's board nominees can unlock $120/share by 2017 — a 21% IRR.
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.
The Bank of New York Mellon BK
BNY Mellon has squandered the 2007 Mellon merger under CEO Hassell; cutting ~10,000 excess FTEs and installing new leadership closes the State Street gap for 114% upside.
E.I. du Pont de Nemours and Company (DuPont) DD
DuPont is an underperforming conglomerate burdened with $2-4bn of excess costs; elect Trian's four nominees to drive separation, cost cuts, and board accountability.
Brookdale Senior Living Inc. BKD
BKD trades at a wide discount because its owned real estate is buried inside an OpCo; a tax-free PropCo/OpCo REIT spin plus governance overhaul unlocks ~$49/share.
TransCanada Corp TRP
TransCanada is an undervalued conglomerate; spinning off Energy and doing an all-in dropdown into TCP — Spectra-style — re-rates the parts to roughly $75/share.
Dillard's, Inc. DDS
Dillard's trades at 6.2x EBITDA despite owning ~50mm sq. ft. of real estate; separating into OpCo/PropCo as peers have done implies ~$193/share vs. $109.
Crown Castle International Corp. CCI
Crown Castle is a U.S. tower REIT 'betwixt and between' — raising the 2015 dividend to $4.00 (80% AFFO payout) re-rates the stock to a 4.0% yield, unlocking 27% near-term and 60%+ upside in 15 months.
Darden Restaurants DRI
Darden, the largest full-service restaurant company, trails peers on margins and total return; an operational fix, REIT spin, and SRG separation can unlock substantial value.
Darden Restaurants, Inc. DRI
Darden's Board destroyed value by selling Red Lobster for ~1x EBITDA against shareholder will; replacing 12 directors unlocks a real estate spin, cost-cut turnaround, and peer-catchup upside.
athenahealth ATHN
athenahealth is the poster child of the cloud 'bubble basket' — strip Morgan Stanley's fantasy margin and revenue-per-doctor assumptions and the stock falls 80%+ toward a $50 adjusted DCF.
Sotheby's BID
Sotheby's sits on $1bn+ of excess capital while insiders own 0.8%; Third Point's slate brings aligned ownership to drive capital return, cost discipline, and higher ROE.
Sotheby's BID
Sotheby's Board has presided over a 42% EPS collapse despite global wealth tailwinds; electing Third Point's three nominees can restore owner perspective and more than double pro-forma EPS.
Darden Restaurants, Inc. DRI
Darden's rushed Red Lobster spin is the wrong deal at the wrong time — it traps ~$850M of real estate value and blocks a $1-2B REIT unlock; shareholders must call a Special Meeting to stop it.
PepsiCo, Inc. PEP
PepsiCo has chronically underperformed because its 'Power of One' holding-company structure suffocates Frito-Lay and Pepsi; separate them into two focused companies and the combined value will re-rate materially higher.
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.
Bob Evans Farms, Inc. BOBE
Bob Evans trades at a conglomerate discount; spinning BEF Foods, monetizing 482 owned restaurants via sale-leaseback, and tendering at $58 unlocks ~$78.50/share.
Health Management Associates HMA
HMA's incumbent board destroyed 25% of independent value before rushing a sale to Community Health Systems; Glenview's Fresh Alternative board protects the deal and recovers upside.
Health Management Associates HMA
HMA's insular 17-year-tenure board drove a Lost Decade of <1% TSR; replace all directors with Glenview's blue-chip slate to fix governance, compensation, and capital allocation.