Long-Term Returns of Keith Meister’s 5 Activist Targets

2. Anaplan, Inc. (NYSE:PLAN)

Long Term Returns: -2.56%
S&P 500 Returns: 2.27%
Activist Investment:  2022

Anaplan, Inc. (NYSE:PLAN) is a company that delivers a purpose-built platform for connecting people’s data and plans to deliver a unified real-time cloud-based environment to optimize decision-making. Meister started pursuing the company in December 2021 and bought stakes in March 2022.

With Sachem and JS Capital Management, Corvex Capital believed Anaplan, Inc. (NYSE:PLAN)’s stock was highly undervalued. The three firms owned 9% of the company’s outstanding shares and started conveying opinions about the company’s business. They also got the right to appoint some people to the board.

Barely a month after investing, Anaplan, Inc. (NYSE:PLAN) would be the subject of a $10.7 billion acquisition bid by private equity giant Thomas Bravo. Following the purchase, Corvex racked up a 34% return on its investment.