United Continental Holdings Inc (UAL), Centurylink Inc (CTL), More: 8 Huge Ideas We Saw At The Sohn Conference

Page 6 of 6

Clifton Robbins, Blue Harbour Group – Investors Bancorp, Inc. (NASDAQ:ISBC)

Clifton Robbins pitched Investors Bancorp, Inc. (NASDAQ:ISBC), the fund’s third-largest position at the end of 2016. He noted that the company will benefit tremendously from tax reform, as it’s currently a full tax-payer (36%), and that the fund will work with the company’s board (on which it has a member) “to explore the highest use” of its excess capital of about $1 billion. Robbins also believes the company is a potential takeover target. Robbins sees as much as 50% upside in shares of Investors Bancorp, Inc. (NASDAQ:ISBC), which have gained 2.3% this week.

money icon, bank background, bank symbol, business, banking sign, bank concept, concept, finance background, banking icons, symbol, copyspace, black and white, tone, financial services, finance, banking symbol, bank building,

Kevin George/Shutterstock.com

That wraps up our coverage of yesterday’s event. If you missed it, check out our feature on Tesla Inc (NASDAQ:TSLA) published earlier today, which includes comments from Social Capital’s Chamath Palihapitiya, who pitched Tesla 2022 convertible bonds yesterday. The next Sohn event takes place June 5 in India.

Follow Investors Bancorp Inc. (NASDAQ:ISBC)

Disclosure: None

Page 6 of 6