Barron's Activist Stocks 7-19-2008
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Date updated:07-19-2008

Each week Barron's has a 13D Filings column. 13Ds are filed when a fund (usually an activist hedge fund) accumulates more than 5% of a firm and is planning on pushing for change (e.g.a sale of the company, sale of certain assets, a share buyback, or a share dividend) to unlock value.

symbol name last price % change open
  • +
  • TMTA
    Transmeta Corp
  • $14.59
  • +2.67%
  • $14.25

Riley Investment Management said that it had reached a settlement with Transmeta on director nominations. Riley agreed to dismiss the derivative stockholder action that it had filed against Transmeta and to withdraw its nomination letter for the 2008 annual meeting. Transmeta will boost the size of its board to nine directors, and will include Bryant R. Riley among its nominees for election. Riley Investment Management agreed that, at least until 2010, it and its affiliates won't seek to acquire Transmeta. Riley had expressed an interest in buying the processor-technology company for $15.50 a share, a bid that Transmeta deemed too low. Riley Investment owns 1,357,364 shares (11.2% of the total outstanding).

People owning TMTA also tend to own: ACTUBELMBKHMCHTRCKSWCOSIFNSR

TheStreet.com Rating: D What is this?

  • +
  • SGXP
    Sgxp
  • $0.00
  • N/A
  • $N/A

BVF intends to explore, with SGX and others, alternatives to SGX's proposed acquisition by Eli Lilly (LLY). BVF said that the alternatives may include the continued independence of SGX, possibly financed through a non-dilutive rights offering with existing shareholders. BVF also may explore strategic collaborations with third parties or a sale of SGX, in whole or in part, under terms other than those that Lilly has proposed. Eli Lilly has agreed to buy the San Diego biotech outfit for $3 a share, or $64 million, subject to the approval of SGX shareholders. BVF owns 5,905,274 shares (28.6%).

People owning SGXP also tend to own: ATECCRDCRESTVGACEYF.PKAUYAVAN

TheStreet.com Rating: D- What is this?

  • +
  • TLX
    Trans Lux Cp
  • $2.65
  • -1.85%
  • $2.60

Mario Gabelli's Gamco Investors (GBL) would like to "understand the process undertaken and valuation considered" in the company's decision to sell its entertainment division. Trans-Lux has agreed to sell the unit to private-equity firm Marwit Capital for $24.5 million. Gamco Investors holds 949,500 shares (47%).

People owning TLX also tend to own: ACSEFARCWAWXBDRBELMBOFIBRNC

TheStreet.com Rating: D What is this?

  • +
  • EK
    Eastman Kodak Co
  • $15.13
  • +2.65%
  • $14.65

Franklin Mutual Advisers asked the maker of cameras and film to expand its recently announced $1 billion stock-repurchase program. Franklin suggested that the company return its cash on hand to shareholders via a $6-per-share special dividend or Dutch auction. Franklin reported owning 15,575,778 shares (5.4%).

People owning EK also tend to own: AESAKSAMRAMTDAMZNCECOCLF

TheStreet.com Rating: C What is this?

  • +
  • OSG
    Overseas Shiphdlg
  • $68.80
  • +0.23%
  • $68.14

Frontline Ltd. (FRO) may seek control of Overseas Shipholding. Frontline expects to contact the company's management and other big shareholders to discuss how to boost shareholder value. Frontline has about 1.5 million shares (4.9%).

People owning OSG also tend to own: DEBSDLXEXPOHRBKCPLENLIZ

TheStreet.com Rating: B What is this?

  • +
  • GR
    Goodrich Corporat
  • $49.48
  • +1.14%
  • $49.29

Atlantic Investment Management will continue its "active discussions" with Goodrich's management, aimed at maximizing shareholder value. It also may hold discussions with other parties about value-enhancing activities. Atlantic Investment boosted its holdings to 6,500,000 shares (5.2%) by buying 2,630,000 from May 29 to July 11 at prices ranging from $43.41 to $64.69.

People owning GR also tend to own: CACLECSCOFITBGEKMPKR

TheStreet.com Rating: B- What is this?

  • +
  • PRXI
    Premier Exhibitio
  • $3.16
  • +1.94%
  • $3.11

Sellers Capital raised its stake to about 3.13 million shares (10.8%) from the 1.95 million (6.46%) that it had reported owning in March.

People owning PRXI also tend to own: NGANTRZNTWKAXRGROWNTYSYX

TheStreet.com Rating: C+ What is this?

  • +
  • GBX
    Greenbrier Co Inc
  • $20.11
  • +1.57%
  • $19.71

Billionaire investor Carl Icahn cut his holdings to 1.12 million shares (6.77%) from the 1.34 million (8.17%) that he reported owing on June 20.

People owning GBX also tend to own: ACOATUFWLTGETGWRHXLITG

TheStreet.com Rating: C What is this?

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