Activist Unveils Bank Investment (CNBC)
Activist investor Clifton Robbins thinks buying stock in Investors Bancorp is a near-sure way to make money. “This is one of the best risk return investments I’ve seen,” the CEO of hedge fund Blue Harbour Group said Monday at the 13D Monitor Active-Passive Investor Summit in New York. Blue Harbour is a $3.7 billion hedge fund firm that focuses on friendly collaboration with the companies it invests in, unlike some of its more confrontational activist peers.
Activist Jana Calls for Qualcomm to Weigh Chip Unit Spinoff (Bloomberg)
Qualcomm Inc. should consider spinning off its chipset business as part of a strategic review of options to boost shareholder value, activist investor Barry Rosenstein said. Separating the unit, which makes chips for mobile phones, could make it a takeover target, Rosenstein said Monday at 13D Monitor’s Active-Passive Investor Summit in New York. Rosenstein’s Jana Partners, which has invested more than $2 billion in Qualcomm, has held talks with the company’s management, he said.
Druckenmiller: This Could End ‘Very Badly’ (CNBC)
Billionaire investor Stanley Druckenmiller has once again warned that the easy money policies of recent years could end poorly. “I know it’s so tempting to go ahead and make investments and it looks good for today,” the retired founder of Duquense Capital Management said, “but when this thing ends, because we’ve had speculation, we’ve had money building up four to six years in terms of a risk pattern, I think it could end very badly.”
Zoetis Adds Second Director Under Deal With Pershing Square (Reuters)
Animal health products company Zoetis Inc added a second independent director to its board under an agreement it reached with Bill Ackman‘s hedge fund Pershing Square Capital Management in February. Zoetis appointed Actavis Plc Executive Chairman and former chief executive Paul Bisaro as an independent director, the company said on Monday. Zoetis agreed with Pershing Square and Sachem Head Group in February to add two independent directors.