Carl Icahn Wants to Fight Dell Again (Bloomberg)
In 2013, Michael Dell and his private-equity backers at Silver Lake took Dell Inc. private for about $25 billion. A lot of investors, and for a while a Delaware court, thought that the price was too low, and that Michael Dell had sandbagged investors by giving them a pessimistic view of Dell’s prospects so that he could buy it cheaply himself. Arguably those complaints turned out to have some merit, as Dell has done very well in private hands and is now looking to return to the public markets.
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Second Activist Targets Canadian Miner Detour; Seeks Board Changes (Reuters)
TORONTO, Oct 16 (Reuters) – U.S. hedge fund Livermore Partners is calling for an overhaul of the board at Detour Gold Corp and a strategic review, becoming the second activist to target the Canadian mining company. Livermore, which has engaged in other activist campaigns including at Canadian and UK media firm Entertainment One Ltd., sent a letter to Detour on Tuesday, saying the board has failed its shareholders on “numerous governance and operational matters.”
Hedge Funds May Get More Joy Trading Euro Credit Carry Than U.S. (Bloomberg)
For hedge funds, shifting sands in the global credit cycle offer a bounty of opportunities to extract yield — trades that favor Europe over U.S. Investors should consider relative-value trades using European credit default swaps on high-yield debt, Societe Generale SA analysts including head of cross-asset quantitative research Sandrine Ungari wrote in a research note this month. Such strategies should benefit from the positive yield differential between junk-rated and investment grade credit, but also from spread compression, their report said.
Insider Buying: Barings BDC Inc (BBDC) Insider Purchases 75,079 Shares of Stock (BaseBallDailyDigest.com)
Barings BDC Inc (NASDAQ:BBDC) insider Barings Llc acquired 75,079 shares of Barings BDC stock in a transaction on Friday, September 28th. The shares were bought at an average cost of $10.02 per share, for a total transaction of $752,291.58. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission.
Insider Selling: Pure Storage Inc (PSTG) CFO Sells 25,000 Shares of Stock (MareaInformativa.com)
Pure Storage Inc (NYSE:PSTG) CFO Timothy Riitters sold 25,000 shares of the stock in a transaction that occurred on Wednesday, September 26th. The stock was sold at an average price of $26.39, for a total value of $659,750.00. The sale was disclosed in a legal filing with the SEC.
Insider Selling: Herman Miller, Inc. (NASDAQ:MLHR) Insider Sells 28,533 Shares of Stock (FairFieldCurrent.com)
Herman Miller, Inc. (NASDAQ:MLHR) insider Gregory J. Bylsma sold 28,533 shares of Herman Miller stock in a transaction that occurred on Wednesday, September 26th. The stock was sold at an average price of $38.25, for a total value of $1,091,387.25. Following the completion of the sale, the insider now directly owns 70,405 shares in the company, valued at approximately $2,692,991.25. The transaction was disclosed in a legal filing with the SEC.
Insider Selling: Codexis, Inc. (CDXS) Director Sells 25,000 Shares of Stock (XNewsPress.com)
Codexis, Inc. (NASDAQ:CDXS) Director Thomas R. Baruch sold 25,000 shares of the firm’s stock in a transaction on Thursday, September 27th. The stock was sold at an average price of $18.54, for a total value of $463,500.00. Following the completion of the sale, the director now directly owns 140,593 shares of the company’s stock, valued at approximately $2,606,594.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Insider Buying: TETRA Technologies, Inc. (NYSE:TTI) Director Purchases 10,000 Shares of Stock (MareaInformativa.com)
TETRA Technologies, Inc. (NYSE:TTI) Director Thomas R. Bates, Jr. bought 10,000 shares of TETRA Technologies stock in a transaction dated Wednesday, September 19th. The stock was acquired at an average price of $4.38 per share, for a total transaction of $43,800.00. Following the completion of the acquisition, the director now owns 143,044 shares in the company, valued at $626,532.72. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website.
