Activist investor Barington Capital on Monday revealed a stake in Macy’s and pushed the retailer to consider options for its Bloomingdale’s and Bluemercury businesses and create a separate real estate unit within the company. Macy’s shares jumped 4% Monday morning. The exact size of Barington’s hold in Macy’s is unclear. Barington partnered with real estate … Read more
Elliott Investment Management is taking its fight with Southwest Airlines to investors by calling for a special shareholder meeting where they can vote on new director candidates who would ultimately steer company strategy. In calling for the meeting, Elliott is taking a highly unusual step but one it has telegraphed for weeks after concluding recent changes … Read more
Canadian apparel maker Gildan Activewear said Thursday its board of directors has resigned and its CEO Vince Tyra has stepped down to be replaced by former top boss Glenn Chamandy. The company’s US-listed shares rose more than 5% to close at $37.62 on Friday. The outgoing directors appointed the nominees of activist investor Browning West to the board … Read more
Advance Auto Parts is appointing three new board members after hedge funds Third Point LLC and Saddle Point Management took positions in the automotive afterparts provider, the company said. The company will add executives with automotive supply chain and merchandising expertise to sit on its board which currently has nine members. The board refreshment comes only six … Read more
Disney CEO Bob Iger is making big bets on Taylor Swift, “Fortnite,” and football — investments he claims will fuel “significant growth” as the Mouse House scrambles to recover from years of lackluster results. Iger on Wednesday made a series of sweeping announcements after Disney reported lower-than-anticipated quarterly revenue of $23.5 billion in an attempt … Read more
Arkhouse Management and its partner Brigade Capital Management on Dec. 1 made a $5.8 billion proposal to take department store chain Macy’s private, Arkhouse confirmed on Sunday. Arkhouse Management, a real-estate-focused investing firm, and Brigade Capital Management, a global asset manager, submitted a proposal to acquire the Macy’s stock they don’t already own for $21 … Read more
Activist investment firm ValueAct Capital Management agreed to back Walt Disney’s board nominees at its upcoming shareholder meeting as the entertainment giant looks to fight off a proxy battle from Nelson Peltz. Disney signed an agreement to share confidential company information with ValueAct, plus consult with the San Francisco-based firm “on strategic matters, including through … Read more
An investor group reportedly offered $5.8 billion to buy Macy’s and take the major American department store chain private. Real-estate focused investing firm Arkhouse and Brigade Capital Management, an asset management company, submitted a proposal to acquire the Macy’s stock they don’t already own on Dec. 1, people familiar with the matter told The Wall … Read more
