This Month
The end of the bromance: how Bolton and Catalano came unstuck
In an audacious corporate raid, Nick Bolton and Antony Catalano made Magellan blink. Then they fought over the spoils.
Bill Ackman takes $3.6 billion stake in Uber
Ride-hailing group is ‘one of the best managed and highest quality businesses in the world’, activist investor says.
US to fly illegal migrants to Guantanamo Bay
The first planeload of illegal immigrants will land in the notorious prison on Tuesday; Michaelia Cash emphasises Peter Dutton’s strength over his likeability; Elliott swoops on BP. Here’s how the day unfolded.
January
Former Perpetual fundie urges board to kill demerger for good
Former head of global equities Garry Laurence has bought up shares in the struggling firm and told the board to dismantle its funds management empire.
Block, Adani short seller Hindenburg Research closes up shop
US activist investor Nate Anderson is disbanding his firm after eight years of “shaking up empires”.
November 2024
Why Perpetual wants to maintain Murdoch control at News Corp
News Corp shareholders have been asked to vote on whether the company’s dual-class share structure should be collapsed this week.
October 2024
Magellan board defends Bolton’s windfall amid ASIC probe
The chairman of the fund manager said a deal struck to appease activist investor Nick Bolton was in the best interests of shareholders.
September 2024
Viburnum’s GTN takeover finds early takers after trading frenzy
Viburnum, which was sitting on 35.53 per cent of GTN, is said to be hovering near the 50 per cent mark after scooping up about 15 per cent of GTN on Monday.
August 2024
Welcome to the nature positive investing movement
Institutional investors see natural capital as the next force in corporate governance, with big implications for companies growing and selling food.
This super fund creates positive returns – and social benefits
Within its $9b fund, Qantas Super allocated $600 million for social impact investing. This year it backed an aged care project, to improve quality of care.
Viburnum Funds sets sights on Coventry Group breakup
Fluids spoke for about 43 per cent of the group’s total $371.3 million revenue in the 2024 financial year.
July 2024
Eildon Capital on former boss’ M&A radar
Street Talk understands that Brisbane-based property fund manager and financier Trilogy Funds is weighing an acquisition of Eildon Capital.
Magellan activist Nick Bolton loses high-stakes battle over legal fees
Nick Bolton’s enemies are legion. Though few can be as determined as John Atanaskovic.
June 2024
L1’s activist fund is making investors and boards take notice
The hedge fund’s catalyst strategy has returned 42 per cent since its 2021 inception, and portfolio manager James Hawkins is eyeing up L1’s next target.
May 2024
Karoon chairman preps for showdown with angry investors
An activist consortium led by Samuel Terry Asset Management intends to vote against five of the nine resolutions up for vote at the oil and gas producer’s AGM on May 23.
Karoon chairman in activists’ firing line over pay
Sandon wrote to chairman Peter Botten on Wednesday arguing that Karoon’s incentive structure had insufficient regard for shareholder value.
April 2024
Activists Samuel Terry, Sandon lawyer up for Karoon Energy fight
The pair have added Allens and Mont Lawyers to their legal teams as they look to talk on the Karoon Energy board.
Activist funds to push Karoon Energy on dividends
Samuel Terry and Sandon Capital will target the oil and gas producer’s board before May’s annual general meeting and push for more dividend payments.
ASX activist HMC Capital takes aim at GrainCorp
HMC Capital has revealed a position in GrainCorp, marking the group’s fourth public bet from the highly concentrated Capital Partners Fund.
March 2024
Hearts & Minds’ heavyweight board stares down New York hedge fund
Saba Capital, which has previously campaigned against BlackRock in its bid to change funds, has bought up some 10 per cent of the ASX-listed philanthropy vehicle.