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☆ Activist Cevian has a stake in medical device company Smith & Nephew. How it may help improve margins
▼ + stars: | 2024-07-13 | by ( Kenneth Squire | ) www.cnbc.com time to read: +5 min

Business: Smith & Nephew is a British portfolio medical technology company that operates worldwide. Its segments include Orthopedics, Sports Medicine and Ear, Nose and Throat, as well as Advanced Wound Management. Its Advanced Wound Management portfolio provides a comprehensive set of products to meet broad and complex clinical needs. Smith & Nephew is a global leader in medical technology. Smith & Nephew is well known for its product quality and its brand perception is very strong.

Persons: Smith, Nephew, Stryker, Zimmer Biomet, Ken Squire Organizations: Sports, Management, Sports Medicine, Cevian, Sports Med, 13D Locations: British, Europe

☆ Nelson Peltz’s Trian has a stake in Rentokil. Here’s how the activist might boost shareholder value
▼ + stars: | 2024-06-15 | by ( Kenneth Squire | ) www.cnbc.com time to read: +6 min

Rentokil offers a complete range of pest control services, from rodents to flying and crawling insects, to other forms of wildlife management. Trian, managed by Nelson Peltz, takes very few positions, but is very active in its positions. Rentokil Initial is a United Kingdom-based global provider of pest control, hygiene and well-being services for residential, commercial and industrial customers. However, when it has engaged with UK companies, the firm has consistently been able to create shareholder value. Shifting the listing to the U.S. is the low-hanging fruit of value creation and potentially divesting the European business could create additional value.

Persons: It's, Trian, Nelson Peltz, Peltz, Rentokil, Janus Henderson, Ferguson, Ecolab, Rio, Pearson, Ken Squire Organizations: Rentokil's, Unilever, Ferguson, New York Stock Exchange, Rollins, Janus, 13D Locations: United Kingdom, North America, Europe, Saharan Africa, France, U.S, Pentair, London, Rio Tinto, New York

☆ Aviva boosts investor payouts after profit beat
▼ + stars: | 2023-03-09 | by ( Iain Withers | ) www.reuters.com time to read: +2 min

The British insurer and asset manager said it had paid more than 5 billion pounds to investors since 2021, including a final dividend of 20.7 pence per share for 2022. The FTSE 100 company reported a 35% rise in 2022 operating profit from continuing operations to 2.2 billion pounds, up from 1.6 billion pounds the previous year. Aviva made an accounting loss of 1.1 billion pounds, compared to a 2 billion pound profit the previous year, which it blamed on adverse market movements in 2022. Following a pension scheme payment and investor payouts, this fell to an estimated 196%, the company said. The company's general insurance gross written premiums increased 8% to 9.7 billion pounds, while its fund arm Aviva Investors reported external net flows of 1.3 billion pounds, down from 3.3 billion the prior year.

☆ Aviva hikes investor payouts after bumper operating profit beat
▼ + stars: | 2023-03-09 | by ( ) www.reuters.com time to read: +1 min

The British insurer and asset manager said it had paid more than 5 billion pounds to investors since 2021, just topping Cevian's demand for that figure to be returned over the year. Aviva reported a 35% rise in 2022 operating profit from continuing operations to 2.2 billion pounds, up from 1.6 billion pounds the previous year and trumping analyst forecasts. However, it made an accounting loss of 1.1 billion pounds, compared to a 2 billion pound profit the previous year, which it blamed on adverse market movements in 2022. Following a pension scheme payment and investor payouts, this fell to an estimated 196%, the company said. The company's general insurance gross written premiums increased 8% to 9.7 billion pounds, while its fund arm Aviva Investors reported external net flows of 1.3 billion pounds, down from 3.3 billion the prior year.

☆ Third Point’s Dan Loeb pens a pointed letter to Bath & Body Works – What could happen next
▼ + stars: | 2023-02-25 | by ( Kenneth Squire | ) www.cnbc.com time to read: +8 min

As an example, in April 2019, ABB chairman Peter Voser stepped in as interim CEO of ABB. She would receive this $18 million regardless of how long she served as interim CEO. Ultimately, she served as interim CEO for a full seven months for the $18 million. The Nash-led BBWI board is now doing whatever it can to protect itself from having a shareholder representative on the board. If this goes the distance, we believe Third Point will show the BBWI board how powerful a good argument is.

☆ Activist investor Cevian takes axe to Thyssenkrupp stake
▼ + stars: | 2022-11-22 | by ( Christoph Steitz | Svea Herbst-Bayliss | ) www.reuters.com time to read: +2 min

SummarySummary Companies Cevian cuts stake by more than 5.6%Thyssenkrupp turnaround failed to boost share priceCevian first disclosed stake in 2013FRANKFURT, Nov 22 (Reuters) - Activist fund Cevian has cut its stake in Thyssenkrupp (TKAG.DE) to less than 1%, it said on Tuesday, effectively ending its loss-making engagement with the German industrial group after years of restructuring that failed to boost its share price. Cevian, which first disclosed a stake in Thyssenkrupp in 2013, had nearly halved its stake to 7.9% a year ago after a far-reaching overhaul it had long demanded arrived too late. Shares in Thyssenkrupp fell 4.7% lower on the news, making them the second-biggest decliners in Germany's mid-cap index and valuing the stake Cevian has sold at more than 180 million euros ($185 million). Refinitiv news service IFR earlier reported that Cevian sold shares at 5.15-5.40 euros apiece in a process run by UBS, indicating the fund took a loss, given Thyssenkrupp stock traded around 17-19 euros when the fund disclosed holdings. The share sale also highlights Cevian's sobering track record in Germany, which includes a 26.67% stake in Bilfinger (GBFG.DE) that has fallen in value since the fund first disclosed a stake in 2011.

☆ Aviva pledges regular investor payouts as premiums rise
▼ + stars: | 2022-11-09 | by ( Carolyn Cohn | ) www.reuters.com time to read: +2 min

Jefferies analysts have previously said they expect Aviva to make recurring 250 million pound ($289 million) pay-outs. Aviva has already returned 4.75 billion pounds to investors after raising 7.5 billion in a string of asset sales since Blanc became CEO in July 2020. Cevian in the past called on Aviva to return five billion pounds to shareholders by the end of 2022. Aviva reported a 10% rise in general insurance gross written premiums in the first nine months of the year to 7.2 billion pounds. The value of new business in its UK and Ireland life division rose 46% over the same period to 466 million pounds.

☆ Cevian slashes stake in Vodafone after calling for faster change, Financial Times reports
▼ + stars: | 2022-10-15 | by ( ) www.reuters.com time to read: +1 min

Oct 15 (Reuters) - Europe's largest activist investor Cevian Capital has slashed its stake in UK-based Vodafone as scepticism grows that the telecoms company will be able to reverse its sluggish performance, the Financial Times reported. Cevian built a significant but undisclosed stake in Vodafone last year through shares and derivatives, becoming one of the ten largest shareholders, the report said, citing people familiar with the matter. However, Cevian sold the vast majority of its stake by June, it added. Vodafone and Cevian Capital did not immediately respond to requests for comment. Earlier in January, the FT reported that another of Vodafone's biggest shareholders, Abrdn, supported Cevian's call for a restructuring.

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