Tag Archives: Lundgren

Hear The Beat Of Dancing Feet From 34th Street- Starboard Disembarks From Macy’s Parade

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Last month, we reported that Macy’s(M) outgoing CEO Terry Lundgren was working to head off a proxy fight with Jeff Smith’s Starboard Value. Lundgren was said to be looking to Hudson’s Bay Company(HBAYF) as a white knight under renewed pressure from Starboard to spin off or otherwise monetize its real estate. A month later, Hudson’s Bay is out… Read More »

Miracle On 34th Street- Is Starboard’s Plan To Unlock Value Back On The Table At Macy’s (M)?

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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 »