Our Australian readers might be interested in this one. Diversified mining company Independence Group (IGO.AX) recently agreed to acquire Sirius Resources (SIR.AX) for ~ $1.8B AUD. A bold bet given the environment for commodity companies and commodity prices, but Sirius did discover some low cost properties in Australia a few years ago. As part of the transaction, Sirius… Read More »
Poor Irene Rosenfeld. The former CEO of Kraft Foods was badgered by Nelson Peltz’s Trian Group into breaking up her empire in 2012 into the slow growing, North American grocery business, Kraft Foods Group, and the international snack food company Mondelez International (MDLZ). She remained at the top of Mondelez and also (rightfully) took a lot of heat for the… Read More »
Shortly after writing about Ventas’ (VTR) expanding hospital business (and skilled nursing facility spinoff), Community Health Systems (CYH), one of the largest hospital operators in the country, announced plans to spin off 38 of its hospitals along with its hospital management and consulting arm Quorum Health Resources LLC. The new company will take on the Quorum name, except the… Read More »
Yesterday morning we noted Shire’s (SHPG) unsolicited all-stock offer for recent Baxter (BAX) spinoff Baxalta (BXLT). The proposal offered to exchange any Baxalta shares for 0.1687 Shire ADRs, implying a value of $45.23 per Baxalta share. Of course, Shire promptly slumped over 5% so the effective price went down somewhat. The company responded later in the afternoon with a press release… Read More »
The Summer of Spin kicked off a little over one month ago, but already one of the spinoffs might be acquired. Shire(SHPG) unveiled an offer to acquire last month’s Baxter International (BAX) spinoff, Baxalta(BXLT). According to the release, Shire contacted Baxalta in early July- immediately after the spinoff, met briefly on July 10, but Baxalta has not seriously considered… Read More »
A new REIT is coming shortly to sate investor’s income needs. The board of directors at ‘diversified’ health care REIT operator Ventas (VTR) approved the spinoff of its acute care and skilled nursing facilities into a new REIT named Care Capital Properties. On August 17th, shareholders as of August 10th will receive one share of Care Capital for every 4… Read More »
A few short hits fora hot summer day – Scuttlebutt Investor recently revisited CDK Global (CDK) and offered his thoughts on the company’s recent performance and transformation plan. The company was just spun off from ADP (ADP) last October, but the dealer services company quickly attracted the interest of several different activists. They seem to have become very involved… Read More »