Trian to Skip PPG Board Challenge After New Commitments: Sources (Reuters)
(Reuters) – Trian Fund Management LP will not challenge PPG Industries Inc’s (PPG.N) board of directors at its 2019 shareholder meeting after the U.S. paints and coatings company met some of the activist hedge fund’s demands and announced new financial targets, people familiar with the matter said on Thursday. Trian, run by billionaire Nelson Peltz, asked PPG last October to replace its Chief Executive Michael McGarry with former CEO Chuck Bunch, look at how it uses its balance sheet, explore a break-up of the company, and eliminate the company’s practice of re-electing only a portion of its board instead of its entirety every year.
Lampert’s $5.2 Billion Sears Deal Gets Backing From BofA, Cyrus (Bloomberg)
Eddie Lampert’s ESL Investments Inc. will finance its winning $5.2 billion bid to salvage Sears Holdings Corp. in part with $850 million from a new asset-based loan, according to a regulatory filing Friday. The deal will also be financed by ESL’s forgiving $1.3 billion of Sears debt that it holds, and with $621 million of existing senior debt that’s being rolled over to the post-bankruptcy company, the filing said. The new Sears will assume another $592 million of other liabilities tied to Sears entities.
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Luby’s will Add Two to Board Amid Pressure from Hedge Fund Investor (Reuters)
(Reuters) – Casual dining chain Luby’s Inc (LUB.N) will shake up its board, it said on Friday, just one week before shareholders vote on whether to add an investor activist’s representatives as directors. The company, which is facing pressure from Bandera Capital, a New York hedge fund that owns nearly 10 percent of its shares, will invite two new independent directors to replace two sitting members and will choose a new chair.
Insider Buying: Crispr Therapeutics AG (NASDAQ:CRSP) Major Shareholder Purchases 90,742 Shares of Stock (PressOracle.com)
Crispr Therapeutics AG (NASDAQ:CRSP) major shareholder Vertex Pharmaceuticals (Europe bought 90,742 shares of the stock in a transaction on Monday, December 24th. The stock was purchased at an average price of $24.08 per share, for a total transaction of $2,185,067.36. The transaction was disclosed in a filing with the Securities & Exchange Commission.
Insider Buying: Apollo Global Management LLC (NYSE:APO) Major Shareholder Buys 234,324 Shares of Stock (FairFieldCurrent.com)
Apollo Global Management LLC (NYSE:APO) major shareholder Tiger Global Management LLC bought 234,324 shares of the firm’s stock in a transaction dated Monday, December 24th. The shares were acquired at an average price of $23.82 per share, with a total value of $5,581,597.68. The acquisition was disclosed in a document filed with the Securities & Exchange Commission.
Insider Buying: Select Interior Concepts (SIC) Major Shareholder Purchases 129,756 Shares of Stock (FairFieldCurrent.com)
Select Interior Concepts (NYSE:SIC) major shareholder Brc Partners Opportunity Fund, acquired 129,756 shares of the company’s stock in a transaction on Monday, December 31st. The stock was acquired at an average price of $6.65 per share, for a total transaction of $862,877.40. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.
Insider Buying: Prospect Capital Co. (PSEC) Insider Acquires 299,707 Shares of Stock (PressOracle.com)
Prospect Capital Co. (NASDAQ:PSEC) insider John F. Barry acquired 299,707 shares of Prospect Capital stock in a transaction dated Monday, December 31st. The stock was purchased at an average price of $6.31 per share, for a total transaction of $1,891,151.17. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Insider Buying: Horizon Global Corp (HZN) Major Shareholder Acquires 92,655 Shares of Stock (MareaInformativa.com)
Horizon Global Corp (NYSE:HZN) major shareholder Atlas Capital Resources Ii Lp purchased 92,655 shares of the firm’s stock in a transaction dated Tuesday, January 15th. The shares were bought at an average price of $2.00 per share, for a total transaction of $185,310.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.
