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    1. Third Point Calls on Intel to Explore Strategic Alternatives

      Third Point Calls on Intel to Explore Strategic Alternatives

      Activist hedge fund Third Point LLC pressed Intel Corp. to make sweeping strategic changes after a year in which the U.S. semiconductor giant suffered more product delays and lost its rank as America's highest-valued chip company. In a letter Tuesday to Intel Chairman Omar Ishrak, Third Point Chief Executive Daniel Loeb said Intel's woes could threaten the U.S. tech industry and urged the chip maker to consider alternatives, including selling some of its acquisitions and splitting its design and manufacturing operations -- a move that would end Intel's long-held status as America's ...

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    2. Public Storage Appoints Three New Independent Trustees

      Public Storage Appoints Three New Independent Trustees

      Public Storage (NYSE:PSA) announced today the appointment of three new members to its Board of Trustees, effective January 1, 2021, including: Shankh Mitra, Chief Executive Officer, Chief Investment Officer and director of Welltower Inc. David Neithercut, former President and Chief Executive Officer and current Board member of Equity Residential...

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    3. Exxon Under Pressure From New Activist Fund

      Exxon Under Pressure From New Activist Fund

      Exxon Mobil Corp. is facing the threat of a proxy fight from a newcomer activist investor with a sustainability bent that wants the beleaguered energy giant to act faster to remake itself. Engine No. 1 LLC, an investment firm launched by Chris James last week, is preparing to send a letter to Exxon's board urging the Irving, Texas-based company to focus more on investments in clean energy while cutting costs elsewhere to preserve its dividend...

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    4. Starboard Says it Now Owns 9% of ACI Worldwide, Stock Gains

      Starboard Says it Now Owns 9% of ACI Worldwide, Stock Gains

      BOSTON (Reuters) - Activist investor Starboard Value boosted its stake in ACI Worldwide Inc to 9%, according to a regulatory filing made on Monday that helped push the payment systems company's stock up more than 3% in afterhours trading. The New York-based hedge fund now owns 10.5 million shares in the Naples, Florida-headquartered company which is worth $3.7 billion, the filing said...

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    5. Activist Trian Fund Management Takes Stake in Comcast

      Activist Trian Fund Management Takes Stake in Comcast

      Activist investor Trian Fund Management LP has taken a stake in Comcast Corp. in a bet that the cable giant's shares are undervalued. Trian has accumulated about 20 million shares in Philadelphia-based Comcast, for a roughly $870 million stake or about 0.4% of the company, a person familiar with the matter said. Comcast's market value stood at just under $200 billion Monday afternoon...

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    6. AT&T Exploring Deal For Its DirecTV Unit

      AT&T Exploring Deal For Its DirecTV Unit

      AT&T Inc. is taking a fresh look at its DirecTV business, according to people familiar with the matter, exploring a deal for a service wounded by cord-cutting. The telecom and media giant and its advisers at Goldman Sachs Group Inc. have been in talks with private-equity suitors about the satellite TV unit, some of the people said...

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    7. Majesco: Enters Into Amended Agreement To Be Acquired by Thoma Bravo

      Majesco: Enters Into Amended Agreement To Be Acquired by Thoma Bravo

      Majesco (NASDAQ: MJCO), a global leader of cloud insurance software solutions for insurance business transformation, today announced that it has signed an amended definitive agreement to be acquired by Thoma Bravo, L.P., a leading private equity firm focused on the software and technology-enabled services sectors, in a transaction valuing the company at $729 million. Following the closing of the transaction, Majesco will operate as a privately held company...

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    8. Activist Investor Cevian Reduces Stake in ABB to Under 5%

      Activist Investor Cevian Reduces Stake in ABB to Under 5%

      Activist shareholder Cevian Capital has reduced its stake in ABB Ltd to less than 5%, according to data on the engineering company's website. Cevian, which campaigned for a separation of ABB's Power Grids business, now holds 4.89% in the maker of electric car charging stations and industrial robots. The holding is a reduction from its 5.34% stake at the end of 2019, according to ABB's annual report...

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    9. Marathon Petroleum Sells Speedway to 7-Eleven Owner for $21 Billion

      Marathon Petroleum Sells Speedway to 7-Eleven Owner for $21 Billion

      Marathon Petroleum has agreed to sell its Speedway gas stations in the United States to Japanese retail group Seven & i Holdings for $21 billion, the companies said, five months after the deal was put on hold amid the coronavirus outbreak. Marathon, under pressure from activist investor Elliott Management, said last year it would launch sweeping restructuring, including spinning off Speedway, which it said was worth as much as $18 billion, including debt...

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    10. Mark Zuckerberg Asserts Control of Facebook, Pushing Aside Dissenters

      Mark Zuckerberg Asserts Control of Facebook, Pushing Aside Dissenters

      In December, Facebook Inc.'s top brass gathered at Mark Zuckerberg 's more than 700-acre, beachfront estate in Kauai, Hawaii, for an unusual board meeting to discuss how to redirect the company after years of turmoil. Changes came, but they weren't what everyone expected, according to people familiar with the gathering. Within months, Facebook announced the departure of two directors, and added a longtime friend of Mr. Zuckerberg's to the board...

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