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☆ Activist investor Ubben shutting down Inclusive Capital-sources
▼ + stars: | 2023-11-29 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +4 min

Jeffrey Ubben, Founder & CEO at ValueAct Capital, speaks on the Reuters Newsmaker event "The Future of Shareholder Activism" in Manhattan, New York, U.S., February 22, 2017. Ubben told investors in a memo he was winding down some funds and returning capital, two people familiar with the matter said on Wednesday. Ubben and Inclusive Capital, known as InCap, did not respond to calls and emails for comment. Last year more hedge funds closed their doors than launched, data from Hedge Fund Research show. More than two decades ago, Ubben, 61, who started his career at mutual fund giant Fidelity, founded ValueAct Capital in San Francisco.

Persons: Jeffrey Ubben, Andrew Kelly, Jeff Ubben, Ubben, InCap, Martha Stewart, John Paulson, Louis Bacon, Svea Herbst, Bayliss, Sabrina Valle, Josie Kao Organizations: ValueAct, Reuters, REUTERS, Capital Partners, Inclusive, Hedge Fund Research, Fidelity, Microsoft, Street Journal, Exxon, Rad Laboratories, Unifi Inc, Bayer, Svea, Thomson Locations: Manhattan , New York, U.S, San Francisco, Houston

☆ AI is robbing us of our creativity, says Inclusive Capital's Jeff Ubben
▼ + stars: | 2023-10-05 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAI is robbing us of our creativity, says Inclusive Capital's Jeff UbbenCNBC's Jon Fortt sits down with Inclusive Capital Partners Founder Jeff Ubben to discuss the digital economy, AI's impact on creators and more.

Persons: Jeff Ubben CNBC's Jon Fortt, Jeff Ubben Organizations: Inclusive Capital Partners

☆ Ubben’s Inclusive sees opportunity to boost value at Dutch chemical maker and help the environment
▼ + stars: | 2023-04-08 | by ( Kenneth Squire | ) www.cnbc.com time to read: +6 min

It operates through the following segments: Methanol U.S., Methanol Europe, Nitrogen U.S., Nitrogen Europe and Fertiglobe. It will be a state-of-the-art facility at the forefront of blue ammonia production and is expected to come online in 2025 and produce 1.1 million tons of blue ammonia annually. This facility will combine nitrogen with blue hydrogen to create blue ammonia. It is considered "blue" ammonia because the carbon emissions produced from the hydrogen production process are captured and stored. Second, this blue ammonia will be sold through an ammonia terminal at the port of Rotterdam that OCI owns and operates.

☆ Salesforce says Elliott will not nominate directors to board
▼ + stars: | 2023-03-27 | by ( ) www.reuters.com time to read: +1 min

March 27 (Reuters) - Salesforce Inc (CRM.N) said on Monday activist investor Elliott Management Corp has decided to not proceed with director nominations to the board of the cloud-based software provider, due to its strong earnings and 2024 transformation initiatives. "Salesforce and Elliott have committed to continue the productive working relationship they have developed together," a joint statement from the companies said. Earlier this month, Reuters reported Elliott nominated a slate of directors to Salesforce's board. Elliott unveiled its multi-billion dollar stake in Salesforce January. Other hedge funds with stakes include Jeff Ubben's Inclusive Capital Partners, Jeff Smith's Starboard Value, ValueAct Capital and Third Point.

☆ Inclusive Capital's Ubben named to Vistry board as homebuilder looks to leverage recent acquisition
▼ + stars: | 2023-03-25 | by ( Kenneth Squire | ) www.cnbc.com time to read: +5 min

As a pioneering activist ESG investor (AESG), Inclusive seeks long-term shareholder value through active partnership with companies whose core businesses contribute solutions to this pursuit. Their primary focus is on environmental and social value creation, which leads to shareholder value creation. They build communities that are mixed tenure, placing affordable housing among open market homes, retail stores, etc. This model has the benefits of a secular shift to affordable housing and is capex light since they do not have to acquire the land. But, in this case the community benefits align so perfectly with the company growth prospects – topline company growth means more affordable housing.

☆ Salesforce shares climb as growth forecast, buyback plan appease investors
▼ + stars: | 2023-03-02 | by ( ) www.reuters.com time to read: +2 min

March 2 (Reuters) - Shares of Salesforce Inc (CRM.N) jumped 15% in premarket trade on Thursday after the cloud-based software provider's revenue forecast eased concerns about slowing growth and its move to double its share repurchase to $20 billion appeased investors. Still, Salesforce's first-quarter revenue forecast implied growth of 10%, higher than analysts' estimates of 9%. Other activist investors with a stake in Salesforce include Starboard Value, Inclusive Capital Partners and ValueAct Capital. They have pushed for higher growth and margins, more share buybacks and raised concerns about recent acquisitions. Shares of Salesforce have advanced 26% this year through Wednesday's close, compared with a near 3% gain in the benchmark S&P 500 index (.SPX).

☆ Salesforce, activist investor Elliott may soon reach deal - sources
▼ + stars: | 2023-02-17 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +2 min

Feb 17 (Reuters) - Cloud-based software firm Salesforce Inc (CRM.N) and activist investor Elliott Management Corp are in discussions to reach an agreement that may end a possible board challenge, according to two people familiar with the matter. The battle at Salesforce has pitted Elliott as well as other activist investors against Marc Benioff, one of Silicon Valley's most iconic chief executives. Salesforce's growth has slowed dramatically in recent quarters and last month the company said it would cut 10% of jobs to address its performance. Representatives for Salesforce and Elliott declined to comment. Elliott too has long invested in technology companies and in the past reached settlements for board seats with companies including Pinterest (PINS.N), Twitter and eBay (EBAY.O).

☆ Third Point owns Salesforce stake, talks Bath & Body Works changes
▼ + stars: | 2023-02-08 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +3 min

Third Point declined to comment on its stake, which was first reported by the Wall Street Journal. These firms have said publicly and privately that they would like to see changes at Salesforce. Third Point on Wednesday updated its own investors about other investments, including one in Bath & Body Works (BBWI.N) , where the firm hinted last year that it might mount a boardroom challenge. In the letter, Third Point's founder billionaire investor Daniel Loeb wrote that he sees a chance to work "constructively" with Bath & Body Works to "address its apparent governance issues and help it realize its significant potential." Last years biggest losers included Walt Disney Co and Amazon.com while Bath & Body Works counted among its biggest winners.

The campaign increases the pressure on non-executive Chairman Norbert Winkeljohann, who has faced calls from large shareholders for the swift replacement of Chief Executive Werner Baumann, who engineered Bayer's troubled Monsanto takeover. The approaches come after Ubben's activist investment fund Inclusive Capital Partners said last month it had bought a 0.83% stake in Bayer. David Herro, deputy chairman of Harris Associates, told Reuters in brief emailed comments that Ubben had contacted him to discuss Bayer. A spokesperson said Bayer was always open to a constructive dialogue with shareholders and declined to comment further. Investors who have publicly called for a swift CEO change hold at least a combined 6.7% in Bayer, according to Refinitiv data.

☆ Bayer investor calls for swift replacement of CEO -newspaper
▼ + stars: | 2023-01-28 | by ( ) www.reuters.com time to read: +2 min

FRANKFURT, Jan 28 (Reuters) - Bayer (BAYGn.DE) investor Deka has called for CEO Werner Baumann to be replaced ahead of his scheduled departure, adding to mounting pressure on the German drugmaker. "There is a window of opportunity for Chairman Norbert Winkeljohann to act before the annual general meeting at the end of April. He has to seize that opportunity, otherwise the pressure on him will increase as well," Speich added. "Generally speaking we are always open to a constructive dialogue with our stakeholders," a Bayer spokesperson said, declining to comment specifically on the interview. Another activist investment fund, hedge fund veteran Jeffrey Ubben's Inclusive Capital Partners, said this month it had also acquired a stake in Bayer.

☆ Facing growing calls for reform, Salesforce could use some fresh faces on its board
▼ + stars: | 2023-01-26 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +4 min

The enterprise software giant is considering at least three potential board appointees, Bloomberg News reported Thursday , citing people with knowledge of the matter. Among those reportedly in conversation to join Salesforce's board are former Carnival Cruise CEO Arnold Donald, Mastercard CFO Sachin Mehra and Mason Morfit, the chief executive of ValueAct Capital. And the firm is now planning to nominate candidates for Salesforce's board, The Wall Street Journal reported Thursday . Bottom line We're encouraged by the Bloomberg report because Salesforce's board could undoubtedly use a refresh, with multiple directors having served for 10 years or more, according to FactSet. New board members, coupled with growing activist pressure, could could be just the boost Salesforce needs and that the market wants to see.

☆ Inclusive Capital takes a stake in Bayer — 3 ways it may build value with a sustainable focus
▼ + stars: | 2023-01-21 | by ( Kenneth Squire | ) www.cnbc.com time to read: +7 min

Activist Commentary: Inclusive Capital Partners is a San Francisco-based investment firm focused on increasing shareholder value and promoting sound environmental, social and governance practices. As a pioneering active ESG ("AESG") investor, Inclusive seeks long-term shareholder value through active partnership with companies whose core businesses contribute solutions to this pursuit. Bayer's crop science division accounts for approximately 25% of global crop farming. There are several ways to create this shareholder value. Bayer currently trades at approximately 7x earnings while its pure-play crop science peer, Corteva, trades at closer to 20x earnings.

☆ Bayer Could Go the Way of General Electric and Daimler
▼ + stars: | 2023-01-18 | by ( Stephen Wilmot | ) www.wsj.com time to read: 1 min

A more comprehensive split of Bayer, with healthcare parting ways with crop science, is a clear option for a new boss. In the slow-burning decline of the industrial conglomerate, the next shoe to drop might be German drugs-to-crops giant Bayer . The inventor of aspirin has attracted a lot of attention from activist investors lately. Jeff Ubben ‘s Inclusive Capital Partners disclosed a stake last week. Bluebell Capital Partners, a small European fund that helped to oust the former chief executive officer of French yogurt maker Danone , also has built a stake.

☆ Bayer’s rude health lays better path for breakup
▼ + stars: | 2023-01-11 | by ( Aimee Donnellan | ) www.reuters.com time to read: +4 min

Activists like Jeff Ubben’s Inclusive Capital Partners may now, however, be in a better position to push for a breakup. Smaller peer Bluebell Capital Partners has also bought in recently. Using UBS forecasts, they would be worth 50 billion euros and 88 billion euros respectively. Its smaller consumer drugs division might fetch another 18 billion euros, using peer Reckitt Benckiser’s (RKT.L) 12 times multiple. Add them up, take off debt, pension liabilities and a further 6 billion euros of future Roundup litigation costs, and Bayer’s equity could be worth nearly 110 billion euros.

☆ Bayer gains on report activist Bluebell pushing for break-up
▼ + stars: | 2023-01-11 | by ( Ludwig Burger | ) www.reuters.com time to read: +2 min

FRANKFURT, Jan 11 (Reuters) - Bayer (BAYGn.DE) shares gained 1.7% in early Wednesday trade following a report activist investor Bluebell Capital Partners has built an equity stake and is pushing for a break-up of the German pharmaceutical and agriculture company. A Bayer spokesperson, who declined to comment on the report, said: "Generally speaking we are always open for a constructive dialogue with our stakeholders." The report follows news on Monday that activist investment fund Inclusive Capital Partners, run by hedge fund veteran Jeffrey Ubben, has acquired a 0.83% stake in Bayer, which has seen its market value slide in recent years. Bayer on Tuesday flagged billions in additional sales potential from its drug development pipeline, buoying its shares. Bayer shares have lagged($1 = 0.9308 euros)Reporting by Ludwig Burger Editing by Rachel More and Mark PotterOur Standards: The Thomson Reuters Trust Principles.

Both are legacy issues from Monsanto, which Bayer acquired for more than $60 billion in 2018. Another activist, Elliott, took a 1.1 billion euro stake in Bayer in 2019 but has kept a low profile. The next-generation blood thinner is one of four new drug hopefuls that Bayer said on Tuesday had combined peak sales potential of more than 12 billion euros. That included an improved outlook for kidney drug Kerendia, with potential annual sales now seen at more than 3 billion euros. ($1 = 0.9313 euros)Reporting by Ludwig Burger and Patricia Weiss Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.

☆ Investor Ubben takes 0.8% stake in Bayer, boosting share price
▼ + stars: | 2023-01-09 | by ( ) www.reuters.com time to read: +1 min

[1/2] The logo of Bayer Mexico is pictured at the company's plant in Lerma, Mexico November 10, 2022. Inclusive Capital said in a statement it had acquired 8.18 million Bayer shares as of Jan. 5, which works out at about 407 million euros ($435 million) based on that day's closing price. The Financial Times, which earlier reported Ubben's investment, said the stake was worth $500 million. Bayer shares gained almost 4% on the news to their highest level in about a month. Bayer' stock market value is about $50 billion for all its businesses including pharmaceuticals, consumer health products, seeds and pesticides, well below the $63 billion deal value for its 2018 takeover of Roundup-maker Monsanto.

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