Tag Archives: CDK Global

Spinoff Odds & Ends: New Activist At Shire $SHPG, RBR Raising Money To Fight $CS

In this edition, we provide a few updates to some of our recent articles focusing on activist activities: 1) Sachem Head vs. Shire Pharmaceuticals (SHPG) Shire Pharmaceuticals announced this summer that it was considering its ‘strategic options’, including a potential spinoff, for its neuroscience division in order to better focus on its rare diseases business. Unfortunately, the company’s stock has… Read More »

Spinoff Odds & Ends: CDK Global, Mondelez International

A few links for another glorious summer Friday: The activist investors at CDK Global (CDK) have a new plan to keep the star spinoff stock rising: find a buyer. The company is apparently working with Morgan Stanley to sell itself and private equity firms are apparently the target audience. That is somewhat surprising because a PE deal for… Read More »

Spinoff Odds & Ends – CDK Global, Remy International

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 »

A Month After Separation CDK Global Attracts Activist Investor Sachem Head Capital

Less than a month after being spun off from Automatic Data Processing (ADP), CDK Global (CDK) has already attracted the interest of an activist investor. Sachem Head Capital Management, a firm led by Bill Ackman protege Scott Ferguson, has amassed a 9.8% stake in the company and is ‘seeking talks’ with management. This must be some type of record.… Read More »

CDK Global’s CFO: We Will Be Much More Nimble

With spinoffs becoming even more popular, it’s worth remembering that these transactions affect lots of people and are actually quite complicated. We previously some highlighted cultural and morale issues that may arise during the process, but there are plenty more that we haven’t touched on. There is a reason the timeline from announcement to completion is typically 6-18… Read More »

With Completion Of Spinoff, CDK Global Drives Off On Its Own, Leaving ADP Behind

Panicked Automatic Data Processing (ADP) shareholders need not worry about their stock appearing on many ‘Top Losers’ lists yesterday. Yes, the company declined a lot, but that was due to yesterday being the first day of trading following the spinoff of its dealer services business CDK Global (CDK). ADP shareholders should have received one share of CDK for every… Read More »

ADP Will Remain In S&P 500 But Spinoff CDK Global Heading To S&P Midcap 400

Automatic Data Processing (ADP) is poised to complete the spinoff of its dealer services business, CDK Global, on September 30th with ADP shareholders receiving 1 share of CDK for every 3 shares of ADP owned. ADP is currently an S&P 500 index constituent and will remain so following the distribution. CDK Global, which will trade under the ticker ‘CDK’,… Read More »

Wheeling & Dealer-ing! ADP Sets Spinoff Of Dealer Services Business CDK Global For End Of September

ADP (ADP) will spin off its dealer services business, CDK Global, on September 30th to shareholders as of September 24th. The new company will trade on the NASDAQ under the ticker ‘CDK’ and ADP shareholders will receive 1 share of ‘CDK’ for every 3 ADP shares owned. The dealer services business is ‘the largest global provider…of integrated information technology… Read More »