What activist were up to this week. Don’t forget to check out our premium activist investing strategy and sign up for our daily newsletter here.

News

  • Barington Capital sent another letter to Eastern Co., where it was seeking getting two members elected to the board.
  • Zoetis agreed with Pershing Square to put Paul Bisaro on the board.
  • Lone Star Value Management sent a letter to Dakota Plains Holdings, urging the company to pursue strategic alternatives.
  • Cannell Capital calls for shareholders to cast a “withhold vote” for all company backed directors of TheStreet board.
  • Rosetta Stone put Nierenberg Investment Management founder David Nierenberg on its board after a three year long battle.

New campaigns

  • Praesidium Investment Management goes active on Quanex Building Products, with a 7.2% stake.
  • Maguire Asset Management and a group of other shareholders went active on iPass with a 7.7% stake looking to get nominees on the board.

Ownership changes

  • Farallon Capital cut its stake in Hudson Pacific Properties by close to 60%. Now owning 4.1% of the company.
  • Chieftain Capital upped its stake in Tempur Sealy marginally, but also reiterated that it’s been having discussions with management to overhaul the board. The fund owns 5.8% of the mattress company.
  • Starboard Value upped its Integrated Silicon Solutions stake by 30% to 3.14mm shares. Now owning 9.9% of the company.
  • Atlantic Investment Management dumped nearly 50% of its Oil States stake. The fund now owns just around 4% of the oil company.

Interesting activist reads around the web

  • Breaking Up Qualcomm May Be Hard to Do, WSJ
  • Activist leads America’s biggest iron miner out of Ring of Fire, but not danger, Fortune
  • Beware Betting Against Short Sellers, WSJ
  • MGM Resorts Urged to Pursue REIT by Land & Buildings’ Litt, Bloomberg
  • Director Ousted in Vail Resorts Board Dustup Speaks Out, MoneyBeat

Activist Stocks: Eastern Co., Zoetis, Dakota Plains, Rosetta Stone, Qualcomm And More