Latest news with #strategicreview
Reuters
5 hours ago
- Business
- Reuters
Activist Carronade builds pressure on Viasat to split business
July 31 (Reuters) - Activist investor Carronade Capital Management urged Viasat (VSAT.O), opens new tab to split its defense business as part of the satellite communications firm's ongoing strategic review. Carronade — which holds a 2.6% stake in the satellite communications firm — in an open letter to shareholders on Thursday called for either a spin-off or an IPO of the defense and advanced technologies (DAT) business, which it said is alone worth $50 per share. The split could result in Viasat's shares trading at a range of $50 to $100 plus per-share pre-event, Carronade said. Viasat's shares rose 3.8%. "We believe DAT's business lines span critical and rapidly growing areas. This is further enhanced by market share gains, driving growth that continues to exceed overall total addressable market growth," Carronade said in the letter. Viasat did not immediately respond to a Reuters request for comment. Viasat's communication services unit posted revenue of $3.3 billion for fiscal year 2025, while the defense segment brought in $1.22 billion. The company expects mid-teen percentage revenue growth in the defense unit for fiscal 2026, driven by strong double-digit gains in information security, cyber defense, and space and mission systems. The Financial Times, which first reported the development, said Carronade continues to build its stake in Viasat and also holds $30 million of the company's debt.
CNA
5 hours ago
- Business
- CNA
Activist Carronade builds pressure on Viasat to split business
Activist investor Carronade Capital Management urged Viasat to split its defense business as part of the satellite communications firm's ongoing strategic review. Carronade — which holds a 2.6 per cent stake in the satellite communications firm — in an open letter to shareholders on Thursday called for either a spin-off or an IPO of the defense and advanced technologies (DAT) business, which it said is alone worth $50 per share. The split could result in Viasat's shares trading at a range of $50 to $100 plus per-share pre-event, Carronade said. Viasat's shares rose 3.8 per cent. "We believe DAT's business lines span critical and rapidly growing areas. This is further enhanced by market share gains, driving growth that continues to exceed overall total addressable market growth," Carronade said in the letter. Viasat did not immediately respond to a Reuters request for comment. Viasat's communication services unit posted revenue of $3.3 billion for fiscal year 2025, while the defense segment brought in $1.22 billion. The company expects mid-teen percentage revenue growth in the defense unit for fiscal 2026, driven by strong double-digit gains in information security, cyber defense, and space and mission systems. The Financial Times, which first reported the development, said Carronade continues to build its stake in Viasat and also holds $30 million of the company's debt.
Yahoo
8 hours ago
- Business
- Yahoo
Interim CEO Shift And Strategy Review Drive Kenvue's Turnaround Efforts
Kenvue Inc. (NYSE:KVUE) is one of the . The company names an interim CEO and launches a strategic review as sales decline, sparking investor pressure. A pharmacist at a local store, stocking shelves with products from the consumer health company. Based in New Jersey, Kenvue Inc. (NYSE:KVUE) is a global consumer health leader. Operating in over 165 countries, the company serves more than 1.2 billion people. Its portfolio includes iconic brands such as Tylenol, Neutrogena, Listerine, and Aveeno that have gained the trust of consumers and healthcare professionals spanning retail, pharmacy, and digital health channels in key markets like North America, Europe, and Asia. Kenvue Inc. (NYSE:KVUE) is undergoing a major leadership transition and undertaking strategic changes to address underperformance and unlock shareholder value. The company appointed Kirk Perry as interim CEO in July 2025. Along with this decision, it is reviewing brand divestitures and execution strategies after a 4.2% organic sales decline in preliminary Q2 2025 results. The review is targeted towards portfolio optimization and operational efficiency, amid activist investor pressure and an equity valuation gap versus peers. Potential brand sales, including those of Clean & Clear and could streamline operations. With full Q2 earnings expected on August 7, the change in CEO and strategic decisions could potentially shape market expectations. Investor confidence in the stock remains high, with 52 hedge fund holders, as recorded by Insider Monkey, holding ownership in the company. While we acknowledge the potential of KVUE as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 11 Best Long Term Low Risk Stocks to Invest in and 13 Best Low Risk High Growth Stocks to Buy Disclosure. None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CTV News
2 days ago
- Business
- CTV News
Dye & Durham launching strategic review that could include company sale
Trains commute as the city skyline is seen in Toronto, Canada, Friday, June 2025. (AP Photo/Kamran Jebreili) TORONTO — Legal software provider Dye & Durham Ltd. says it has initiated a strategic review that could include a sale of assets and the company. In connection with the review, the company announced that it has entered into a co-operation agreement with Plantro Ltd., a large shareholder that has been pushing for such a sale. Dye & Durham says that as part of the agreement with Plantro, David Danziger will be appointed to the board and serve as chair of a newly formed special committee that will lead the strategic review. It says Danziger is an experienced finance leader with a background in consulting on audits, accounting, mergers and acquisition and management. In early June, Plantro demanded immediate action from Dye & Durham to address the nearly $1 billion in lost shareholder value after the company's share price had fallen by around 60 per cent since last December. Plantro raised concerns about falling cash generation and rising costs and pushed for a special meeting of shareholders, a request it has agreed to withdraw under the agreement with the company. This report by The Canadian Press was first published July 30, 2025.
Bloomberg
4 days ago
- Business
- Bloomberg
Diageo Said to Tap BofA, Goldman for East African Unit Review
Save Diageo Plc has picked Bank of America Corp. and Goldman Sachs Group Inc. for a strategic review of East African Breweries Ltd., people familiar with the matter said, as the distiller looks to an asset light model to free up capital for reviving growth. Options for Nairobi-listed EABL may include a sale of just the beer business, which could be valued at about $2 billion in a deal, the people said. EABL has a market value of about $1.2 billion and Diageo is its largest shareholder with a 65% stake.
