Activist Stocks: Informatica, Legg Mason, Jazz Pharmaceuticals

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Activist Stocks: Informatica, Legg Mason, Jazz Pharmaceuticals

Activist fans, another lite day. Activist news and stories below. Send tips to daily newsletter, and ICYMI the latest newsletter, it’s here.

News:

  • Trian Fund and Nelson Peltz has dumped some of its Legg Mason shares. It lowered its stake by 5% and still owns 10.88% of the company.
  • Kyle Bass is still at it with pharma patent challenges. Today, it’s Jazz Pharmaceuticals and its narcolepsy drug Xyrem. Recall Bass also announced challenges against Shire this week.
  • Elliott Management finally books a win, getting Informatica sold. it’s going private for $48.75 a share. Note that Elliott went active with an 8% stake back in Jan.

Stories:

Gates Capital Management Reduces Risk After Rare Down Year [Exclusive]

Gates Capital Management's ECF Value Funds have a fantastic track record. The funds (full-name Excess Cash Flow Value Funds), which invest in an event-driven equity and credit strategy, have produced a 12.6% annualised return over the past 26 years. The funds added 7.7% overall in the second half of 2022, outperforming the 3.4% return for Read More

  • @activistinvestr puts together a piece on the PwC report about activist investors from a few week’s ago. The standout for The Activist Investor blog is the PwC tool for assessing the risk of being targeted by an activist. Takeaway, “Among other helpful items from PwC, including a full report and a video, the risk assessment tool piques our interest.” [link]
  • @SharpeTrade lays out how activist investors can hurt and help the retail investor. Now it’s not the best-written piece, but bear with me. The focus is on Apple and to some extent IBM. I highlight this piece to outline how misunderstood activist investing is at times. The media and retail investors view activism in a bubble and apply it only to the stocks they care about. If you’re going to look at how activists hurt and help retail investors, you must do so on a broader spectrum, and one that’s a fair playing field [link]

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