It’s that time of year again where thanks to sites like Market Folly we mere mortals get to enjoy the vast wisdom contained in hedge fund year end letters. David Einhorn’s Greenlight Capital is always a good one to read although this past year was a challenging one for the value investor. The fund returned <2% in 2017… Read More »
E.ON(EONGY), German’s largest utility, is facing calls from activist investor Knight Vinke to spin out its power distribution business. This comes just months after the €4 billion demerger of its conventional power generation and commodity trading units into Uniper(UN01.DE). Knight Vinke, a European activist fund best known for its campaigns against UBS and Darty, was supportive of the… Read More »
The year is coming to an end and it’s really cold outside. Warm up and start your weekend with a few spinoff related links: The always excellent Value and Opportunity took a close look at the recent spinoff of Italian gas distributor Italgas (IG.MI) from SNAM spa (SNMRF). In his opinion, although there is real risk in the name,… Read More »