The latest Hedge Fund Trend Monitor from Goldman Sachs analysts Amanda Sneider, David J Kostin, Stuart Kaisar, Ben Snider, Rima Reddy and Aaron Woodside carries a section on activist hedge funds.
As this is written, we learn of one of the most successful and speedily conducted activism campaigns in recent times – that of Juniper Networks, Inc. (NYSE:JNPR) by hedge funds Elliott Management and Jana Partners. Juniper capitulated by offering a $3B buyback, quarterly dividends, improvement in operating margins and two new board positions for independent directors. Juniper is trading at $28.08, up 2.44%.
In contrast, another highly successful activist campaign by Bill Ackman’s Pershing Square fund...
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