Toshiba should sell stake in ex-chip unit at IPO, says HK activist fund in letter

spike

TOKYO (Reuters) – A Hong Kong-based activist investor in Toshiba Corp (6502.T) has asked the Japanese conglomerate to sell its entire stake in Kioxia Holdings when the flash memory chip firm is listed in an IPO that could raise up to $32 billion, according to a letter reviewed by Reuters.

FILE PHOTO: The logo of Toshiba Corp is seen behind cherry blossoms at the company’s headquarters in Tokyo, Japan April 11, 2017. REUTERS/Toru Hanai/File Photo

Argyle Street Management Ltd, a hedge fund with over $1.5 billion under management, sent the letter to CEO Nobuaki Kurumatani in late March

Read More

Activist investor Starboard says it has 9.3% stake in software firm Commvault

spike

BOSTON (Reuters) – Activist investor Starboard Value LP has built a stake in U.S. data protection and data management software company Commvault, saying in a regulatory filing that it felt the shares were undervalued when it purchased them.

FILE PHOTO: Jeffrey Smith, CEO of Starboard Value LP and Chairman of Papa John’s International Inc., speaks during an interview on CNBC on the floor of the New York Stock Exchange (NYSE) in New York, U.S., March 22, 2019. REUTERS/Brendan McDermid

The New York-based hedge fund has built a roughly 9.3% position in the company, according to a Securities and Exchange Commission

Read More

Activist investor makes new push for HC2 board to remove chief Falcone: letter

spike

BOSTON (Reuters) – An activist investor is stepping up calls for the board of HC2 Holdings Inc (HCHC.N) to remove Chief Executive and Chairman Philip Falcone as the former hedge fund manager faces mounting legal and financial troubles.

FILE PHOTO: Philip Falcone, chief executive officer and chief investment officer for Harbinger Capital Partners, participates in a panel discussion during the Skybridge Alternatives (SALT) Conference in Las Vegas, Nevada May, 9, 2012. SALT brings together public policy officials, capital allocators, and hedge fund managers to discuss financial markets. REUTERS/Steve Marcus

MG Capital, run by former Third Point executive Michael

Read More