Activist Elliott grows stake in Equinix, holds talks with company
The hedge fund, which has made a string of profitable technology investments including bets on Salesforce, Texas Instruments and Hewlett Packard Enterprise, has been holding discussions with Equinix, said the person, who was not permitted to discuss the private talks publicly. Neither Elliott's exact demands for the company nor the exact size of the stake could be learned.
Equinix's stock price climbed 1.5 per cent on Monday to close trading at $789.19.
Elliott swooped in after Equinix investors were caught off guard at the company's analyst day last month by news of a higher than expected capital expenditure plan that sparked a sharp sell-off. The stock price tumbled 18 per cent in the two trading sessions following the June 25 analysts day, the first for Equinix's new chief executive officer, Adaire Fox-Martin.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CNA
5 hours ago
- CNA
Amorim prepared to reintegrate exiled Man Utd players if valuations not met
Manchester United manager Ruben Amorim has said he is prepared to reintegrate the club's exiled players into his squad if they cannot be sold for fees that match the valuations expected by the former Premier League champions. Alejandro Garnacho, Jadon Sancho, Antony and Tyrell Malacia have been excluded from the squad that has travelled to the United States for the club's pre-season tour with the quartet seeking transfers away from Old Trafford. But while they have had to work separately from the first team squad since United returned for training ahead of the new season, Amorim acknowledged he would be prepared to accept the players back into his squad should they not be sold. "Some players have to find a new place to have more space in the team and other players clearly show they want a new challenge and want new teams," Amorim told reporters in Chicago ahead of Saturday's pre-season meeting with West Ham United. "We are just allowing these players to have time to think and to decide. If we reach a point where they have to join the team, they will join the team because they are our players. "I'm ready to receive the players. They have more competition, more competition if you want to play in the World Cup next year, you need to play. "So I'm really happy with that because I have more options. If they have to fight each other to play, for me it's perfect." United have signed Matheus Cunha and Bryan Mbeumo so far in the transfer window, while England winger Marcus Rashford has left to join Barcelona on loan as Amorim's side looks to bounce back from a lowly 15th place finish in last year's league table. The club's financial situation is such that United need to sell players if they want to add to their squad. Chief Executive Omar Berrada and director of football Jason Wilcox are charged with finding buyers for their "bomb squad". "I know for a fact these people - Jason, Omar and the club - have a number for these players," said Amorim. "If they don't reach that, they will be Manchester United players, no doubt about that.
Business Times
9 hours ago
- Business Times
LVMH in talks to offload fashion label Marc Jacobs: sources
[NEW YORK] French luxury goods group LVMH is in discussions with multiple buyers to offload its fashion label Marc Jacobs, sources familiar with the matter told Reuters on Friday (Jul 25). The Bernard Arnault-led company has been holding talks with potential buyers, including Reebok-owner Authentic Brands Group and WHP Global, the sources said, who asked not to be named because the discussions are confidential. Authentic Brands declined to comment on the matte,r while WHP did not immediately respond. Brookstone's owner Bluestar Alliance is also a suitor for Marc Jacobs, which could be worth around US$1 billion, according to The Wall Street Journal (WSJ), which earlier reported the news. LVMH, Marc Jacobs and Bluestar Alliance did not immediately respond to requests for comments on the WSJ report. In 2024, Bloomberg reported that LVMH was exploring strategic options for the label with advisers after receiving interest from potential buyers, though the company denied the claim at the time. A NEWSLETTER FOR YOU Friday, 2 pm Lifestyle Our picks of the latest dining, travel and leisure options to treat yourself. Sign Up Sign Up Founded in 1984 by American designer Marc Jacobs, the luxury fashion brand is renowned for its eclectic, bold designs that blend high fashion with street style. In 1997, LVMH tapped Jacobs to lead the Louis Vuitton brand and acquired a stake in the designer's eponymous label. The Wall Street Journal said that a deal could be finalised soon, provided talks do not fall apart. LVMH has recently been offloading some of its brands to streamline its portfolio. Last year, it sold the Off-White clothing brand, founded in 2012 by the late Virgil Abloh, to the New York-based company Bluestar Alliance for an undisclosed value. Another label, Stella McCartney, earlier this year, repurchased the minority stake held by LVMH in the house she founded about five years after the luxury group bought it. McCartney, who famously does not use leather or fur, said it will continue to advise LVMH chief Arnault and the group's executive team on sustainability matters. Dealmaking in the luxury retail sector has drawn attention in Europe. Earlier this year, Prada acquired Versace from Capri Holdings, combining two iconic Italian fashion brands in a US$1.4 billion deal. LVMH's second-quarter sales, which include products such as Louis Vuitton handbags, Dior dresses and Moet & Chandon champagne, came in slightly below market expectations. The company's shares rose, with analysts pointing to hopes on the horizon as the group said it saw some signs of recovery in the key Chinese market. Deutsche Bank analyst Adam Cochrane said that while the second-quarter results were not 'stellar', there were some 'glimmers of hope'. French luxury brands have been navigating prolonged market challenges, including a downturn and the potential impact of US import tariffs. REUTERS
CNA
9 hours ago
- CNA
NASA says 20% of workforce to depart space agency
WASHINGTON :About 20 per cent of the employees at the U.S. National Aeronautics and Space Administration are set to depart the space agency, a NASA spokesperson said on Friday. Around 3,870 individuals are expected to depart, but that number may change in the coming days and weeks, the spokesperson said, adding that the remaining number of employees at the agency would be around 14,000.
