Inside these posts: Activist investors

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Adidas, Nike tee up for Fortune golf unit

Initial takeover offers for Fortune Brands’ golf unit are expected to be submitted today by a range of bidders, including Adidas AG, Nike Inc and private equity firms, sources familiar with the situation said on Friday.

Fortune Brands said in December it would split off its golf and home products units under pressure from activist investor William Ackman.

Icahn’s investment in Motorola declines in value

From Bloomberg News | Activist investor Carl Icahn is loading up on shares of Clorox, his most recent investment, after the shares of some of his other investments have declined in value. According to Bloomberg data, Motorola Inc. and Lions Gate Entertainment Corp. are worth less now than when Icahn’s stakes in the companies were first disclosed.

Icahn takes 11.4% stake in Motorola Mobility

Carl Icahn in 2007. (Terrence Antonio James/Chicago Tribune)

Activist investor Carl Icahn owns 11.4 percent of the newly formed Motorola Mobility, according to regulatory documents filed with the U.S. Securities and Exchange Commission.

Icahn had been steadily building his stake in the old Motorola Inc. prior to the company’s separation into two independent, publicly traded companies on Jan. 4. Motorola Mobility, which makes mobile phones and TV set-top boxes, was spun off from Motorola. The remaining company, which makes communications equipment for government and business customers, was renamed Motorola Solutions.

According to regulatory filings, Icahn has 33.5 million shares in Motorola Mobility. His stake in the new company is roughly on par with his stake in the old Motorola. Get the full story »

Fans of Bill Ackman boost Howard Hughes shares

Since U.S. mall owner General Growth exited bankruptcy last month, its stock has gotten a nice lift. But shares of its less noticed spin-off, Howard Hughes Corp, have really soared.

Since General Growth issued about $2 billion worth of shares at $14.75 in mid-November, the mall owner’s stock price has grown more than 6 percent — trading around $15.70 on Thursday afternoon. Meanwhile, Howard Hughes’ thinly traded shares have gained nearly a third, or 32.8 percent, in roughly the same period, now trading around $54.45. Get the full story »

Icahn raises stake in Motorola to 11.3%

Activist investor Carl Icahn has increased his stake in Schaumburg-based Motorola Inc. to about 11.3 percent, up from a 10.7-percent holding he disclosed at the end of August.

In filings with the U.S. Securities and Exchange Commission, Icahn said he spent about $120.9 million to buy 15.2 million additional shares of Motorola on Tuesday. Get the full story »

Barnes & Noble changes poison pill plan

Bookseller Barnes & Noble Inc. appears to have bowed to shareholder pressure and is changing its shareholder rights plan to limit further stakes by Chairman Leonard Riggio and his family, the company said Wednesday.

Analysts cautious after Fortune up on Ackman news

Fortune Brands’ shares surged 13 percent on Friday on the news that William Ackman’s firm Pershing Square Capital Management had purchased an 11 percent stake in the company. But the stock’s ebullience has given some analysts pause.

Peter Lisnic of Robert W. Baird downgraded Fortune’s stock on Monday morning from “outperform” to “neutral,” saying that the stock is now priced higher than its peers.

“Our rating adjustment reflects current valuation metrics that are now at a material premium relative to blended peer group multiples,” he wrote. “While [Fortune] remains well positioned in its end markets, and execution during the recession and housing downturn has been superb, current valuation metrics would appear to discount a stronger macroeconomic recovery than we believe is likely, particularly in U.S. housing construction markets.” Get the full story »

Carl Icahn buys more Motorola shares

Billionaire investor Carl Icahn is continuing to buy up shares of Motorola Inc., disclosing his second batch of purchases in a week. Get the full story »

Icahn buys more Motorola shares, has 10.6% stake

Activist investor Carl Icahn has upped his stake in Schaumburg-based Motorola Inc. to about 10.6 percent from a 9.99 stake he disclosed earlier this month, according to a filing with the U.S. Securities and Exchange Commission. Get the full story »

Nelson Peltz’s Trian exits Kraft

Nelson Peltz’s Trian Partners on Friday reported no stake in Kraft Foods Inc. on June 30, according to regulatory filings.

Peltz previously held nearly 4.5 million shares in the food company, a significant portion of his portfolio. The famously aggressive shareholder has generally been selling his one-time massive position in Kraft–once worth more than $1 billion–since early last year, according to disclosures. Get the full story »

Carl Icahn increases his stake in Motorola

By Wailin Wong
Activist investor Carl Icahn has raised his stake in Schaumburg-based
Motorola Inc. to 8.75 percent, according to a Friday filing with the
U.S. Securities and Exchange Commission.

Icahn and his investment vehicles last disclosed their Motorola holdings
in May 2008, reporting a 7.6 percent stake.

Get the full story »