Elliott Investment Management has built a significant stake in Catalent (CTLT) and is pushing for a shake-up on the contract drugmaker’s board. Elliott has been talking to potential director candidates about joining a slate of nominees to run in a proxy contest, people familiar with the matter said. The exact size of Elliott’s stake couldn’t
Elliott loaded up on the offshore name through equity swaps; looks like they are now at 15.65% of Seadrill’s share capital. The boilerplate 13D filing doesn’t really tell what their intentions are. Curiously following this as it involves one of our favorite themes. This is the second week Elliott popped up with reporting positions in
Knight Therapeutics Inc. (TSX:GUD) (“Knight” or the “Company “), a leading pan-American (ex-US) specialty pharmaceutical company, announced today acceptance by the Toronto Stock Exchange (the “TSX”) of the Company’s Notice of Intention to Make a Normal Course Issuer Bid (“NCIB”). Pursuant to the NCIB, the Company proposes to purchase, from time to time over the
Upon completing MDU Resources Group, Inc.’s (NYSE: MDU) previously announced strategic review of its wholly owned construction services business, MDU Construction Services Group Inc., the MDU Resources board of directors has determined that it will pursue a potential tax-advantaged separation of the construction services business from MDU Resources. The board said a tax-advantaged separation of
After mortgage rates shot up last year, Ivory Homes, one of Utah’s largest builders, suddenly had few buyers for the hundreds of homes it had under construction. So Clark Ivory, the chief executive, laid off 9% of his staff, and by January he had slashed construction by nearly 80% from its 2022 peak. Then, much
About $24.8 billion of US office buildings were in distress at the end of the second quarter, surpassing previous leading commercial real estate laggards — hotels and retail properties. The total value of offices that were financially troubled or already repossessed by lenders shot up about 36% from the first quarter, MSCI Real Assets reported
Every time the real-estate market crashes, people say, “This time is different.” When there’s distress all around, it’s hard to grasp how there could ever be an upside. But with the benefit of hindsight, you can see that if you’d had enough money when things got bad, you could have made a killing by taking
US homebuilder sentiment rose in July to the highest level in 13 months as buyers continued to opt for new construction amid a tight housing supply. The National Association of Home Builders/Wells Fargo gauge increased for a seventh-straight month, to 56 from 55 in June. The figure matched the median estimate in a Bloomberg survey
Mortgage rates are inches away from 7% – but less than a tenth of U.S. homeowners have a home loan at that rate. In fact, only 9% of all existing mortgages in the U.S. were taken out with a rate of above 6%, according to data from the Federal Housing Finance Agency, and analyzed by