It’s hump day. Here are some links to help you get through it: Marketfolly published some notes on a panel titled ‘The Future of Shareholder Activism’ at the Reuters Live Newsmaker Event. The panel featured some currently ‘active’ managers including ValueAct’s Jeffrey Ubben, Mantle Ridge’s Paul Hilal, Blackrock’s Zach Oleksiuk and Cadwalader’s Richard Brand (lawyer). Mr. Ubben has been… Read More »
What a difference a week makes. Last week we reported that Valeant(VRX) was considering spinning off its Neuro drugs. Now, in the face of mounting conerns about its relationship with specialty pharmacies including Philidor, the company assures us that everything is ok. On a conference call this morning, CEO J. Michael Pearson told a questioner that the Neuro spin… Read More »
Bill Ackman loved its business model of purchasing companies with “mispriced” drugs and raising prices, but, under fire from regulators and legislators, Valeant(VRX) announced today that it will be completely changing its business model. Recent outrage about huge price increases for acquired drugs including public statements by Democratic Presidential candidate Hillary Clinton have been a cause of the… Read More »
Despite the claims of ‘super activist’ Rick Shottenfeld, it certainly looks like the Nook is the more attractive part of Barnes & Noble (BKS) these days. After partnering with Microsoft (MSFT) earlier this year, the company has sold a 5% stake in Nook Media LLC to Pearson (PSO) for ~$89.5 million in cash, valuing the company at ~$1.79b.… Read More »