Activist Stocks: Tempur Sealy; DuPont; Nelson Peltz’s Downfall

Activist sponsors, weak Monday, but major activist stories and news for May 11 below. We’re taking leads at @activiststocks, daily newsletter signup, ICYMI the latest newsletter is here.

News-

  • Tempur took the resignations of the three directors (CEO included) that got a vote of no confidence on Friday. CEO is stepping down tomorrow. H Partners got the win here, owning around 10%. A fairly big surprise; props to H Partners’ marketing. What they do now, who knows – their 100-page presentation did little to outline exactly how to fight off competition in an increasingly commoditized industry [100 pg. presentation]
  • Trian Partners has a full page ad in the Wall Street Journal today [see it here], trying to convince shareholders to vote for them in the proxy battle. Again, Peltz’s downfall will be the large passive pansy investors like Vanguard and the company’s high number of retail ‘sheep’ investors [link to Peltz’s downfall: Passive pansies & sheep]

Stories-

Notes From Schwarzman, Sternlicht, Robert Smith, Mary Callahan Erdoes, Joseph Tsai And Much More From The 2020 Delivering Alpha Conference

Stephen SchwarzmanThe following are rough notes of Stephen Schwarzman, Steve Mnuchin, and Barry Sternlicht's interview from our coverage of the 2020 CNBC Institutional Investor Delivering Alpha Conference. We are posting much more over the next few hours stay tuned. Q2 2020 hedge fund letters, conferences and more One of the most influential investor conferences every year, Read More


  • Keeping with the DuPont theme, @stephengandelhas a piece at Fortune about the 4-month long battle between Trian and Peltz and whether it’s a net negative for activism. It’s a long read, but as you might imagine, the thesis is that if Peltz wins it’ll encourage other activists to take on larger targets [link]