Wednesday, 1 April 2015
Last updated 2 hours ago
Sep 18 2013 | 11:04am ET
Activist hedge fund Jana Partners has pushed Safeway to take a poison pill.
Jana yesterday disclosed a 6.2% stake in the California-based grocery-store chain, calling it undervalued. The hedge fund said it had spoken with Safeway management about strategic alternatives and about cutting back on its geographic reach.
In response, Safeway said it had adopted a poison-pill provision to prevent any investor from taking more than a 10% stake in the company, and that it was working with Goldman Sachs to defend against a takeover bid.
Among Jana's demands are the return of a "significant" amount of capital to investors, closing stores in regions where profit margins are lower and distributing the company's majority stake in its gift-card business to shareholders. That unit, Blackhawk Network Holdings, was spun-off earlier this year.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…