Dawn raid makes comeback via activist drone strike

April 22, 2014

Agitators usually take a stake in a company and then try to make something happen. Bill Ackman has instead teamed up with Valeant Pharmaceuticals to grab a 9.7 pct interest in $40 bln-plus Allergan, with a hostile takeover ready for deployment. It’s a potent battlefield tactic.

Ackman gets closer to permanent capital grail

April 19, 2012

The activist hedgie’s planned $4 bln London-listed vehicle would dwarf other public funds, which often trade at a big discount to net asset value. The scale plus fee sweeteners may give Ackman an edge. And his focus on easily priced bets could shrink the NAV problem.

Replacing P&G boss may be Bill Ackman’s best hope

July 13, 2012

The uppity investor’s latest target is the Pampers-to-Crest giant. But traditional activist tactics like a breakup won’t work at the $178 bln company. New leadership might help get P&G back on track. Maybe Ackman could even recruit vaunted former CEO A.G. Lafley to help.

Ackman’s new fund is off-Target – in a good way

July 9, 2013

Four years after eating humble pie for a bad concentrated bet on the U.S. retailer, the hedge fund boss is seeking $1 bln for another secret single-stock pick. Paying fees to invest blind in a listed company warrants skepticism. But Bill Ackman may have learned from his mistakes.

Ackman has Air Products catalyst, now for reaction

September 26, 2013

The activist hedgie has dislodged the gas firm’s underperforming boss, John McGlade. That quick win brought him a sharp gain of about $100 mln on his 10 pct holding. For bigger, more lasting success, however, a painstaking transformation of the company is now needed.