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

3. ForeScout Technologies, Inc. (NASDAQ:FSCT) 

Long Term Returns: 31.77%
S&P 500 Returns: 30.68%
Activist Investment: 2019

ForeScout Technologies, Inc. (NASDAQ:FSCT) is a cyber-security company that provides network visibility and access control solutions. Its solutions allow customers to see what devices are connected to the network and enforce various security policies. Meister declared a 14.5% stake in the company in October 2019 and reiterated plans to push for changes to unlock shareholder value.

Meister reiterated that the company was highly undervalued and had significant growth potential; therefore intended to discuss board and management changes among other strategic initiatives such as sales to maximize shareholder value.

In May 2020, ForeScout Technologies, Inc. (NASDAQ:FSCT)  agreed to be acquired by Advent International for $1.9 billion or $33 per share. Advent terminated the deal citing material adverse changes in ForeScout Business. Nevertheless, the two would reach an agreement in July, resulting in Advent acquiring the company for $1.6 billion or $29 a share. At the time of the sale, Corvex Capital’s holdings in the company were down by about 17%.