1. Articles from David Benoit

    1-21 of 21
    1. Dan Loeb's Third Point calls for Nestle Changes

      Dan Loeb's Third Point calls for Nestle Changes

      Activist investor Dan Loeb's Third Point LLC is keeping pressure on Nestlé SA, saying the giant consumer company needs to do more to realign its portfolio, including getting out of its stake in cosmetics giant L'Oréal SA. The activist, writing to his own investors, says Nestlé has taken some "important" steps recently, pointing to new board members the company announced and plans to increase margins, but believes more is needed. A representative for Nestlé wasn't immediately able to comment...

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    2. ADP Vote to Offer a Status Check on Standing of Activist Investor Ackman

      ADP Vote to Offer a Status Check on Standing of Activist Investor Ackman

      Automatic Data Processing Inc. has spent the past several years trying to modernize its business. On Tuesday, shareholders will decide whether those moves are enough or if they want to allow one of Wall Street’s most powerful and polarizing investors into the boardroom. Famed hedge fund manager William Ackman is seeking a seat for himself and two others on ADP’s 10-person board, saying it has fallen behind hot technology companies that have made its human-resources industry user-friendly...

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    3. Supervalu Facing Pressure From Activist Investor Blackwells Capital

      Supervalu Facing Pressure From Activist Investor Blackwells Capital

      Supervalu Inc. is facing a push from an activist investor as the food wholesaler and retailer struggles to reverse a yearslong stock slide. Blackwells Capital LLC, an alternative-investment fund that is one of the company’s 10 biggest shareholders, wants the grocery company SVU, +1.49% to sell dozens of its stores and bring in new leadership, among other demands, according to a letter viewed by The Wall Street Journal...

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    4. CSX Seeks Shareholder Vote Over Activist Investor’s Demands

      CSX Seeks Shareholder Vote Over Activist Investor’s Demands

      CSX Corp. turned the tables on an activist investor that threatened a fight for control of the railroad operator’s board, revealing the investor’s demands and calling for its shareholder to vote on the matter. The company said it made a written offer last week to hire railroad veteran Hunter Harrison as chief executive and to allow activist investor Paul Hilal to nominate five directors...

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      Mentions: stock options
    5. Chipotle and Bill Ackman Near Settlement on Board

      Chipotle and Bill Ackman Near Settlement on Board

      Chipotle Mexican Grill Inc. and William Ackman are nearing a settlement that would give the activist investor a say in the boardroom at the beleaguered burrito chain. The Denver company and Ackman’s Pershing Square Capital Management LP, which disclosed a 9.9% stake two months ago, have been discussing changing the board and could reach an agreement soon, according to people familiar with the matter. A deal isn’t assured and could be delayed or fall apart, they said ...

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    6. Morgan Stanley Is Dealt a Challenge

      Morgan Stanley Is Dealt a Challenge

      The arrival of an activist investor in Morgan Stanley’s stock is both a validation of the strategy pursued by Chief Executive James Gorman and a challenge to articulate and execute it better. ValueAct Capital Management LP, a $16 billion hedge fund with a penchant for high-profile turnaround stories, unveiled a $1.1 billion stake in Morgan Stanley on Monday and, in a letter to the fund’s own investors, showed support for Mr. Gorman’s... 

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    7. Dell Buyout Lurches Toward an Inevitable Finish

      Dell Buyout Lurches Toward an Inevitable Finish

      When law professor Brian Quinn was teaching about leveraged buyouts earlier this year, he thought he finally had a model transaction to show his students: Dell Inc.DELL +0.07%.  Months later, following a storm of controversy, delays to a shareholder vote and a change to voting rules in exchange for a sweetened bid, Mr. Quinn isn't so sure he can put Dell's nearly $25 billion buyout on a pedestal...

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    1-21 of 21
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