76 documents showing 1–60
The Walt Disney Company DIS
Disney has underperformed its peers across every recent time period under the incumbent board; elect Trian's Peltz and Rasulo to restore focus, accountability, and shareholder alignment.
Sony Corporation 6758.T
Sony trades at a ~50% conglomerate discount; spinning Semiconductors into 'Sony Technologies', divesting listed stakes, and refocusing on entertainment unlocks ~2x SOTP upside.
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.
Epiq Systems, Inc. EPIQ
Epiq's board has insulated management through chronic guidance misses, a failed Iris acquisition and governance entrenchment; electing Villere's alternate slate is the unique opportunity to unlock value.
Outerwall Inc. OUTR
Outerwall's cash-rich Redbox/Coinstar business trades at a 3x EBITDA capital-allocation discount; halting buybacks for a large dividend and running a sale process unlocks 150%+ upside.
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.
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.
H.J. Heinz Company HNZ
Retrospective of Trian's 2006 Heinz campaign: a 13D white paper and proxy-won board seats drove brand reinvestment and cost discipline, delivering 178% TSR versus 40% for the S&P 500.
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.
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.
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.