Last week, Biogen(BIIB) completed its spinoff of Bioverativ(BIVV). The Bioverativ spinoff included Biogen’s hemophilia assets and a $325 million pile of cash. What remains at Biogen is, depending on who you listen to, either poised for great growth, or struggling with it. Barrons reports on two analysts with positive views on Biogen: RBC Capital Markets analyst Michael Yee… Read More »
Despite our new President publicly pledging his support for the coal industry, Consol Energy (CNX) is still looking at ways to fully shed its exposure to the commodity. The company sold off a number of its mines in 2016 and the only thing keeping it from being a pureplay E&P entity is its Pennsylvania mining interests. In its… Read More »
Bioverativ(BIVV), a drug company focused on hemophilia and other blood disorders, was spun off by Biogen(BIIB) last week. Gabelli & Co initiated Bivoerativ stock as a buy with a value of $58, citing the company’s strong balance sheet(no debt, $325 million in cash), its limited exposure to Medicare, its potential to benefit from corporate tax reform, and its… Read More »
As we discussed back in November 2015, Starboard Value Partners, led by the brash Jeffrey Smith, had acquired a stake in Macy’s(M) and pushed for a spinoff of the real estate into a REIT(Real Estate Investment Trust). Now, with the stock down 60% from Starboard’s purchase price and longtime Macy’s CEO Terry Lundgren stepping down, the plan may… Read More »
Every year Barron’s gathers a group of asset management luminaries for a roundtable discussion. The group collectively manages many many billions of dollars and includes people like Jeffrey Gundlach, Mario Gabelli and Meryl Witmer. While the discourse includes a bit about the overall macro environment, the focus is mainly on each individual’s top investments for the coming year.… Read More »
Last March, we reported that CBS(CBS) was considering ‘strategic options’ for its radio business. After it was unable to find a buyer, the company moved forward with plans for an IPO and spinoff of CBS Radio. Today, the company again announced a change of plans. Instead of an IPO, the company will be spun off and immediately merge… Read More »
On February 1, Biogen(BIIB) completed the spinoff of its Hemophilia business, Bioverativ(BIVV). Biogen shareholders woke up on February 2 to find one share of Bioverativ in their portfolio for every two shares of Biogen that they had owned. Biogen has had a tumultuous year, with the departure of its longtime CEO George Scangos in January amidst stalling sales. Xconomy’s… Read More »
In June 2015, when we wrote about Graham Holdings(GHC) spinning off Katherine Graham’s “best acquisition ever”, we noted that Cable One(CABO), then trading at $430, would make an interesting acquisition target as one of the few smaller independent public companies. Instead, Cable One, now trading at $639, is purchasing a smaller competitor, NewWave Communications, for $735 million in… Read More »