Mercury Systems, SWK Holdings See Activist Action

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These disclosures are from 13D filed with the Securities and Exchange Commission. 13Ds are filed within 10 days of receiving more than 5% in any class of securities of a company. Subsequent changes in holdings or intentions must be reported in the amended filing. This content is from December 23 to December 29, 2021. Source:

Activist Holdings
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Mercury Systems (MRCY)

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Jana Partners increased its position in the aerospace-and-defense contractor to 3,731,962 shares, including 173,300 shares of underlying options. Jan Partners bought 2,647,179 Mercury Systems shares from October 25 to December 22 at prices ranging from $46.96 to $53.23. Jana Partners, which now owns a 6.6% stake in Mercury Systems, acquired the stock because it saw the shares as “an attractive investment opportunity.” Jana Partners further revealed that it plans to engage Mercury Systems to discuss “evaluating strategic options, including the sale”. [Mercury Systems],” among other talking points.

SWK Holdings (SWKH)

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Carlson Capital, already the largest shareholder of the life-sciences technology firm with a 71% stake, offered to buy out all remaining outstanding shares to take the company private. Carlson Capital first approached SWK’s board with a full-cash deal that valued SWK at $19 per share at the end of November. Since then, Carlsen has been in talks with the Special Committee of the Board of SWK regarding the terms of the offer. As a result of those discussions, Carlson made a revised offer of $20.20 per share to SWK’s special committee on December 27. Carlsen noted that the higher bid is its final offer and requests a response from SWK before January 4, 2022. Carlson reported a holding of 9,093,766 SWK shares.

safe (safe)

GIC, a Singapore sovereign fund, switched to file as an active investor in a real estate investment trust. GIC reported ownership of 4,248,435 safehold shares, equivalent to 7.5% of the outstanding stock. By December 15, the day the GIC’s representative was appointed on the board of Safehold, the GIC had updated its position to 13D.

increase in holdings

FirstEnergy (FE)

Blackstone Group (BX) quickly increased its interest in the electric utility to 5.3% through a private placement held on 13 December. On that day, Blackstone spent $1 billion to buy 25,588,535 FirstEnergy shares, which equated to a per-share price of $39.08. Blackstone has no plans or proposals for a new investment that would increase its FirstEnergy stake to 28,832,099 shares.

Sinoloy (SYNL)

The pivot fund increased its position in the metal and specialty chemicals manufacturer to 1,846,643 shares. On December 22, Pivet Fund purchased 219,523 shares of Synalloy in connection with the Synalloy rights offering at a price of $12.75. The latest investment has raised Pivot Fund interest in Sinaloy to 18.2 per cent. Privet Fund partner Ben Rosenzweig continues to serve as a Synalloy director. Synalloy stock price has doubled in 2021. Its metals division manufactures products including stainless-steel and nickel-alloy pipe and liquid storage solutions. Synalloy’s chemicals division makes products for industries including paper, metals, mining, agriculture, automotive and petroleum.


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